§412:2-314  Action to correct capital and
surplus impairment.  (a)  Whenever it appears to the commissioner that the
capital and surplus of a Hawaii financial institution is impaired, the
commissioner shall notify the financial institution in writing to correct the
impairment within a reasonable time specified by the commissioner, which time
may be extended by the commissioner.



(b)  If the Hawaii financial institution fails
to correct the impairment of its capital and surplus as required, the
commissioner may immediately appoint a conservator, or may close the financial
institution, appoint a receiver to take possession of its assets, and proceed
with the liquidation of its assets.  A financial institution placed in
conservatorship pursuant to this subsection may, with the consent of the
commissioner, later resume business upon the conditions as the commissioner may
approve. [L 1993, c 350, pt of §1; am L 1994, c 107, §3]



 



Rules of Court



 



  Receivers, see HRCP rule 66.