Qualified Foreign Lenders Should No Longer Register With DFI Or With Any Other State Agency

During the 1999 Hawaii Legislative Session, the State law relating to mortgage loans (Chapter 207, Hawaii Revised Statutes ("HRS")) was amended by Act 43, Session Laws of Hawaii (1999), effective on April 26, 1999. Sections 207-14 and 207-15, HRS, were repealed. As a result, the exemptions and immunities described in Section 207-12, HRS, are now accorded to qualified foreign lenders without the need for registration of the foreign lender with DFI or with any other state agency.

A lender should consult an attorney if it is uncertain about any provision in Chapter 207, including whether it is a "foreign lender" as defined in Section 207-11, HRS, or whether it is entitled to the exemptions and immunities described in Section 207-12, HRS.

Research Aids:

For online access to the Hawaii Revised Statutes ("HRS"), go to www.capitol.hawaii.gov and select "Bill Status & Docs". 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 207, HRS, click on "Browse", click on "Vol04", then click on "hrs207". WARNING: Statutes amended or repealed as a result of a recent Legislative Session may not be updated as yet in the online Hawaii Revised Statutes.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 Office of the Legislative Reference Bureau at (808) 587-0478, or e-mail par@capitol.hawaii.gov."