Hawaii § 189-45 - Loans, terms, and restrictions.
Full text of Hawaii Hawaii Revised Statutes § 189-45 — Loans, terms, and restrictions., with citation guidance and answers to common questions.
§ 189-45. Loans, terms, and restrictions.
The department may make loans to individuals or businesses for the financing of expenses incurred in the purchase, construction, renovation, maintenance, and repair of small fishing vessels. The loans may be made in conjunction with loans made by other financial institutions including the Small Business Administration or loans guaranteed by the National Marine Fisheries Service. Where the loans made by the department are secured, such security may be subordinated to the loans made by other financial institutions, when such subordination is required in order to obtain loans from such institutions. The necessity for and the extent of security required in any loan shall be determined by the director. The foregoing powers shall be subject, however, to the following restrictions and limitations: (1) No loan shall exceed $50,000. (2) No loan shall be made for a term exceeding ten years. (3) Each loan shall bear simple interest at the rate of seven and one-half per cent a year. (4) The commencement date for the repayment of the first installment on the principal of each loan may be deferred by the director, but in no event shall such initial payment be deferred in excess of two years. [L 1975, c 167, §11; am L 1976, c 70, pt of §2] Previous Vol03_Ch0121-0200D Next
Source: official Hawaii text · Last verified 2026-08-27
Frequently Asked Questions About Hawaii § 189-45
What does Hawaii Revised Statutes § 189-45 cover?
Section 189-45 ("Loans, terms, and restrictions.") is part of the Hawaii Revised Statutes, the codified statutory law of Hawaii. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Hawaii § 189-45?
A common citation format is "Hawaii Revised Statutes § 189-45" (Hawaii). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Hawaii law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Hawaii official source linked on this page or consult a licensed Hawaii attorney.
How does Hawaii § 189-45 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Hawaii can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Hawaii.