§412:2-401  Appointment of conservator orreceiver; judicial review.  (a)  The commissioner may, without notice orprior hearing, appoint a conservator or receiver for a Hawaii financialinstitution by a written order setting forth the grounds for such appointmentand any other conditions of the conservatorship or receivership as thecommissioner deems appropriate, including without limitation the temporary orpermanent closure of the financial institution.  The commissioner may alsorequire the conservator or receiver other than a federal insurer to obtain asecurity bond, at the expense of the financial institution, in an amount thatthe commissioner deems appropriate.

(b)  Upon being served with any written orderpursuant to subsection (a), the persons in charge of the Hawaii financialinstitution shall forthwith turn over possession and control of the institutionto the conservator or receiver, and upon request by the conservator or receivershall vacate the premises.  The conservator or receiver may apply to thecircuit court for injunctive or other relief to enforce the conservatorship orreceivership.

(c)  Not later than twenty days after theinitial appointment of the conservator or receiver, the persons who were incharge of the affected Hawaii financial institution immediately prior to theappointment of a conservator or receiver may bring an action in the circuitcourt for an order requiring the commissioner to terminate the conservatorshipor receivership.

(d)  All judicial proceedings under thissection shall be closed to the public and shall take precedence over all otherpending cases before the court and shall in every other way be expedited.  Thecommissioner's decision to appoint a conservator or receiver shall be set asideonly if the court finds that such decision was arbitrary, capricious, an abuseof discretion, or otherwise not in accordance with law. [L 1993, c 350, pt of§1]

 

Rules of Court

 

  Injunctions, see HRCP rule 65.