HAR §15-4-6
HAR §15-4-6. Agreements with financial institutions
Cite as Haw. Code R. § 15-4-6
(a) The director may negotiate contracts with
financial institutions upon reasonable terms for their participation with the department in making loans
pursuant to this chapter.
(b) A participation agreement with a financial institution shall provide that at least ten per cent
of the total loan be comprised of funds from the financial institution. The financial institution's share of
the disbursement of funds of any loan shall bear the same ratio as its participation in the total amount of
the loan.
(c) A participation agreement may provide that the financial institution undertake to service the
loan. [Eff. JUL 6 1981] (Auth: HRS §209-26) (Imp: HRS §209-27)