<PAGE>
EXHIBIT 5.1
File Number: F1088-0017
Direct Dial Number: (213) 891-5020
E-Mail Address: [email protected]
August 2, 2000
Securities and Exchange Commission
Division of Corporate Finance
450 Fifth Street, N.W.
Washington, D.C. 20549
Attn: Office of Applications and Reports Services
Re: Hanmi Financial Corporation
REGISTRATION STATEMENT ON FORM S-8
Gentlemen:
We have acted as counsel to Hanmi Financial Corporation, a Delaware
corporation (the "Company"), in connection with the registration of 1,482,837
shares of common stock, $.001 par value per share (the "Shares") with the
Securities and Exchange Commission (the "Commission") under the Securities Act
of 1933, as amended, (the "1933 Act"), pursuant to a registration statement on
Form S-8 (the "Registration Statement"). The Shares will be issued in accordance
with the Company's Year 2000 Stock Option Plan (the "Plan").
This opinion is being delivered in accordance with the requirements of Item
601(b)(5)(i) of Regulation S-K under the 1933 Act.
In our capacity as counsel to the Company, we have reviewed such documents
and made such inquiries as we have reasonably deemed necessary to enable us to
render the opinion expressed below. In all such reviews, we have made certain
customary assumptions such as the genuineness of all signatures, the
authenticity of all documents submitted to us as originals, the lack of any
undisclosed modifications, waivers, or amendments to any documents reviewed by
us and the conformity to authentic original documents of all documents submitted
to us as conformed or photostatic copies. For purposes of rendering this
opinion, we have investigated such questions of law as we have deemed necessary.
On the basis of the foregoing, and in reliance thereon and subject to the
assumptions, qualifications, exceptions and limitations expressed herein, we are
of the opinion that when the Shares are issued in accordance with the terms of
the Plan, the Shares will be duly authorized, legally issued, fully paid and
non-assessable.
This opinion is limited to the present laws of the State of California and
of the United States of America, and the corporate law of the State of Delaware.
This opinion is solely for your information in connection with the offer
and sale of the Shares by the Company, and is not, without the prior written
consent of this firm, to be quoted in full or in part or otherwise referred to
in any documents nor to be filed with any governmental agency or other persons,
other than with the Commission and various state securities administrators in
connection with the qualification of the Shares, to which reference and filings
we hereby consent.
Very truly yours,
BUCHALTER, NEMER, FIELDS & YOUNGER
