Section 16-26-8 - Rating system for a nondepository financial services loan company(a) In assigning a composite rating to a nondepository financial services loan company, the UFIRS adopted in section 16-26-7 shall not be used. In lieu thereof, the division shall evaluate and weigh several factors, including the nature and extent of present compliance by the institution with consumer credit law and other Hawaii statutes, the commitment of management to compliance and its ability and willingness to take the necessary steps to assure compliance, and the adequacy of operating systems, including internal procedures, controls, and audit activities designed to ensure compliance on a routine and consistent basis. This evaluation system of a nondepository financial services loan company shall be called the Nondepository Rating System ("NRS"). The assignment of the composite compliance rating may incorporate other factors that impact significantly on the overall effectiveness of an institution's compliance efforts.(b) Each nondepository institution shall be assigned a composite rating based on an evaluation of pertinent compliance standards, criteria, and principles. This overall rating is expressed through use of a numerical scale of "1" through "5" in ascending order of supervisory concern. Thus, "1" represents the highest rating and, consequently, the lowest level of supervisory concern; "5" represents the lowest rating and, therefore, the highest degree of supervisory concern. The composite rating and individual component ratings shall be contained in the report of examination and shall be deemed confidential, pursuant to section 412:2-104, HRS.[Eff and comp 1/27/01] (Auth: HRS §§ 412:2-104, 412:2-107, 412:2-200) (Imp: HRS §§ 412:2-104, 412:2-200)