412:3-106 Residency of chief executive officer. The chief executive officer of every Hawaii financial institution, except a nondepository financial services loan company, shall be a resident of this State. If at any time a person holding the office ceases to be a state resident, that person's tenure shall automatically cease, and a successor, alternate, or substitute who is a state resident shall be immediately appointed or elected, as provided in the institution's bylaws. [L 1993, c 350, pt of 1]


Previous Vol08_Ch0401-0429 Next