STAND. COM. REP. NO. 2276

                                   Honolulu, Hawaii
                                                     , 2000

                                   RE:  S.B. No. 2807
                                        S.D. 1




Honorable Norman Mizuguchi
President of the Senate
Twentieth State Legislature
Regular Session of 2000
State of Hawaii

Sir:

     Your Committee on Commerce and Consumer Protection, to which
was referred S.B. No. 2807 entitled: 

     "A BILL FOR AN ACT RELATING TO ESCROW DEPOSITORIES,"

begs leave to report as follows:

     The purpose of this measure is to:

     (1)  Recognize the confidentiality of portions of escrow
          depository company applications and records;

     (2)  Revise procedures to voluntarily terminate escrow
          depository operations;

     (3)  Add a definition of "division" to refer to the division
          of financial institutions; and

     (4)  Allow the Commissioner of Financial Institutions to
          establish certain fees by rule and to waive fees for
          good cause.

     Testimony on this measure was submitted by the Department of
Commerce and Consumer Affairs.

     Your Committee finds that this measure will provide
additional protection for consumers, as well as give the
Commissioner flexibility in the matter of fees.  Your Committee
has made technical, nonsubstantive amendments for the purposes of
style.

 
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                                   STAND. COM. REP. NO. 2276
                                   Page 2


     As affirmed by the record of votes of the members of your
Committee on Commerce and Consumer Protection that is attached to
this report, your Committee is in accord with the intent and
purpose of S.B. No. 2807, as amended herein, and recommends that
it pass Second Reading in the form attached hereto as S.B.
No. 2807, S.D. 1, and be referred to the Committee on Ways and
Means.

                                   Respectfully submitted on
                                   behalf of the members of the
                                   Committee on Commerce and
                                   Consumer Protection,



                                   ______________________________
                                   BRIAN KANNO, Co-Chair



                                   ______________________________
                                   BRIAN T. TANIGUCHI, Co-Chair

 
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