§449-7.4 Grant of approval. (a) Following the hearing on the application, if any, the commissioner shall issue a written decision and order. If the commissioner decides in favor of the application, the commissioner shall issue a license to act as an escrow depository pursuant to section 449-8.
(b) Approval shall be granted only if the commissioner finds that the character, financial responsibility, experience, ability, and general fitness of the officers and directors are such as to command the confidence of the community in the State and to warrant the beliefs that the officers and directors are competent to successfully manage an escrow business and the applicant will be an honest and efficient escrow depository.
(c) In granting approval, the commissioner may impose such conditions and restrictions as shall be in the public interest, including without limitation requiring an applicant to fulfill representations contained in its application and agreements made during the application process. [L 1992, c 205, pt of §1]
Structure Hawaii Revised Statutes
Title 25. Professions and Occupations
449-1.6 Name of escrow depository.
449-1.7 Indicia of escrow depository prohibited.
449-1.8 Confidential portion of application or records.
449-1.9 Powers of commissioner
449-3 Excepted from this chapter.
449-5 License required to act as escrow depository.
449-6 Application for license.
449-7 Investigation and ruling.
449-7.5 Licensing requirements.
449-8 Issuance and renewal of license.
449-8.6 Sale or transfer of license or change in control.
449-9 Escrow depository's bond.
449-11 Fidelity bonds; insurance or other security devices.
449-12 Errors and omissions insurance or other security devices.
449-13 Cancellation of bonds or insurance; withdrawal of deposits.
449-16 Accounting for moneys, property, etc.
449-17 Revocation and suspension of licenses.
449-20.5 Closing branch office.
449-21 Maintenance of books and records.