§281-95  Bankruptcy, insolvency, death. If a licensee becomes a legally adjudicated bankrupt, or makes an assignmentfor the benefit of the licensee's creditors, or dies, before the expiration ofthe term of the licensee's license, the licensee's trustee in bankruptcy,assignee, or personal representative, as the case may be, may, with the consentof the liquor commission, continue to exercise the license for the purpose ofclosing the affairs of the estate; but if not so continued within forty-fivedays the commission shall cancel the license.

If a mortgage on the premises covered by alicense is foreclosed before the expiration of the term of the license, themortgagee, or the mortgagee's authorized representative or a duly appointedcommissioner of sale may, with the consent of the commission, continue toexercise the license or continue it in effect for the purpose of completing asale of the premises under the foreclosure proceedings.  Notwithstanding anyrule or regulation of the commission to the contrary, the payment of anyrenewal fee for a license issued for the premises involved in foreclosureproceedings or additional fee accrued on the basis of gross sales made undersuch a license may be withheld until sale of the premises has been completed. [LSp 1933, c 40, §58; RL 1935, §2627; RL 1945, §7279; RL 1955, §159-94; am L1959, c 207, §1; HRS §281-95; am L 1976, c 87, §6 and c 200, pt of §1; gen ch1985]