207-13 Permitted activities. The activities referred to in section 207-12 are:

(1) Making loans;

(2) Receiving security for loans;

(3) Acquiring, by assignment or otherwise, partial or entire interests in loans or in security for loans;

(4) Servicing (but servicing only by or through individuals who are residents of, or corporations doing business in, this State), collecting, enforcing, or otherwise realizing upon loans or upon security for loans or upon interests therein; and taking, holding, and disposing of any property acquired (whether by purchase at any sale pursuant to foreclosure by suit or foreclosure under power of sale, or by foreclosure by entry, or by conveyance in lieu of foreclosure) in enforcement of the rights of the foreign lender in the event of default by any borrower; and

(5) Empowering agents and servants or in connection with, and entering into and performing contracts, and doing other acts and things necessary or appropriate for or preliminary or incident to, any of the foregoing activities, but not maintaining any office in this State for the conduct of any such activities. [L 1961, c 194, 10; Supp, 98L-10; HRS 207-13; am L 2017, c 12, 26]



Previous Vol04_Ch0201-0257 Next