[§412:13-229]  Immediate suspension orrevocation.  (a)  If the commissioner finds that any of the factors setforth in section 412:13-228(b) are true with respect to any foreign bank thatis licensed to maintain a Hawaii state branch or Hawaii state agency, and thatit is necessary for the protection of the interests of creditors of the foreignbank's business in this State or, in any case, for the protection of the publicinterest that the commissioner immediately suspend or revoke the license of theforeign bank, the commissioner may issue, without notice and hearing, an orderimmediately suspending or revoking the license of the foreign bank for a periodof up to twenty days, pending investigation or hearing.

(b)  The order immediately suspending or revokingthe license shall be accompanied by a notice of charges which states thealleged grounds for the order.  The notice of charges shall set forth a timeand place for a hearing to determine whether the immediate order of suspensionor revocation shall be made final.

(c)  The order shall be effective upon serviceon the Hawaii state branch or Hawaii state agency and shall remain in effectuntil a final order is issued after a hearing, a final order is consented to,or the charges are dismissed upon completion of a hearing.  The foreign bankmay contest the issuance of the immediate suspension or revocation order byapplying to the circuit court for an injunction.

(d)  Within twenty days after the service of anotice of charges, unless an earlier date or later date is set by thecommissioner upon request of the foreign bank, the commissioner shall hold ahearing in accordance with chapter 91.  If no appearance is made at thescheduled hearing by the foreign bank or the foreign bank's authorized representative,the foreign bank shall be deemed to have consented to the issuance of the finalsuspension or revocation order.  Any appeal of a final order of suspension orrevocation shall be made to the circuit court in accordance with chapter 91.

(e)  Any order of immediate suspension orrevocation may be enforced in the circuit court upon application by thecommissioner.  Any final order of suspension or revocation issued in accordancewith this section may be enforced as provided for in section 412:13-228(c). [L1996, c 155, pt of §2]