Does DFI provide opinions or interpretations of law?

Limitation As to Statutes That DFI Can Interpret:
The DFI administers only the Code of Financial Institutions, codified at Chapter 412, Hawaii Revised Statutes ("HRS"), and Chapter 449, HRS, which relates to escrow depositories. Therefore, DFI cannot interpret other statutes, such as Chapter 207, HRS, relating to mortgage loans, or Chapter 454, HRS, relating to licensing of mortgage brokers and solicitors, or Chapter 415, HRS, relating to domestic and foreign corporations. (See, Related Topics Section.)

Rules Governing Inquiries and Requests for Opinions or Interpretation of Law:
Subchapter 6, Chapter 25, Title 16 of the Hawaii Administrative Rules ("HAR") sets forth the DFI rules regarding requests for opinions and interpretation of law, whether from the public or from institutions and industry trade associations.

Generally, any opinion, interpretation, or advice rendered by the DFI shall be in keeping with its regulatory purpose. Hence, the DFI shall not render opinions and interpretations to private individuals so as to determine an individual's rights against an institution.

Similarly, the DFI's response to an inquiry from a financial institution or industry trade association shall not determine private rights and obligations. The Commissioner may respond to those industry inquiries that are consistent with the DFI's regulatory purpose. Hence, an institution or industry trade association can inquire whether the DFI will find a particular action to be within the bounds of the law.

An inquirer who requests an interpretation of statute or rule shall state in writing:

1. The facts giving rise to the questions;
2. The specific questions being presented;
3. The inquirer's position on the questions; and
4. Any authority, legal or otherwise, for that position.

If a request is made through legal counsel, counsel's client (e.g., the institution or other entity, and not merely the entity's representative) shall be identified by name.

The Commissioner shall issue in writing any statement that interprets a statute or rule, renders an opinion, or defines a policy. The Commissioner's interpretation or opinion shall have particular applicability to the inquirer, and shall not be intended to apply to other institutions or persons, unless so stated.

Research Aids:
An unofficial booklet containing Chapter 25, Title 16, HAR may be ordered using the DFI Form M - Publication-by-Mail-Order Form or is available for purchase at the DFI Office. To see a list of other available booklets or publications, go to "Reports and Publications".

For online access to Title 16 of the Hawaii Administrative Rules, go to http://www.hawaii.gov/ltgov/office/adminrules.

For online access to the Hawaii Revised Statutes ("HRS"), go to www.capitol.hawaii.gov and select "Status & Documents". If you use the Search feature, then in the "Search the HRS text for" box, enter key words descriptive of the statute you wish to access. If you use the Browse feature and wish to see Chapter 412, HRS, click on "Browse", click on "Vol08", then click on "hrs412_CFI".  For Chapter 449, HRS, click on "Vol10", then click on "hrs 449". CAUTION: Statutes amended or repealed as a result of a recent Legislative Session may not be updated as yet in the online Hawaii Revised Statutes.

If you need assistance in accessing state government documents online, please call the Public Access Room of the Legislative Reference Bureau at (808) 587-0478, or e-mail par@capitol.hawaii.gov.