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2013 Hawaii Revised Statutes
TITLE 22. BANKS AND FINANCIAL INSTITUTIONS
412. Code of Financial Institutions
412:3-615 Nonconforming assets or business.


HI Rev Stat § 412:3-615 (2013) What's This?

§412:3-615 Nonconforming assets or business. If a Hawaii financial institution resulting from a conversion, merger, consolidation, acquisition, or assumption by law may no longer own certain types of assets once it undergoes the conversion, merger, consolidation, acquisition, or assumption, or if it may no longer engage in certain types of business activities, the commissioner shall, as part of the order approving the transaction, allow a reasonable time within which the institution may divest itself of the nonconforming assets or business activities in order to conform with law. [L 1993, c 350, pt of §1]

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