2012 Hawaii Revised Statutes
TITLE 22. BANKS AND FINANCIAL INSTITUTIONS
412. Code of Financial Institutions
412:2-402 Additional grounds for appointment.
Rules of Court
Receivers, see HRCP rule 66.
§412:2-402 Additional grounds for appointment. The commissioner may also appoint a conservator or receiver to take over the possession and control of any Hawaii financial institution:
(1) Which consents to such appointment by an affirmative vote of a majority of its board of directors, or by a majority vote of its shareholders or members; or
(2) Whose status as an insured institution has been involuntarily terminated by the federal insurer of its deposits or accounts.
An appointment pursuant to this section shall not be subject to judicial review. [L 1993, c 350, pt of §1]
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