§412:2-412  Duties and powers of receiver.  (a) 
A receiver of a Hawaii financial institution shall observe the provisions of
this part, except to the extent preempted by applicable federal law.



(b)  Upon assuming office, the receiver may:



(1)  Immediately take possession of the assets of the
Hawaii financial institution with all the rights and powers of the shareholders
or members, directors and officers with the authority to conduct all business
of the Hawaii financial institution;



(2)  Collect all obligations and money due the Hawaii
financial institution; and



(3)  Take such action as may be necessary to carry out
the purposes of the receivership, consistent with the receiver's appointment
order, and as may be required by law, the commissioner or any court having
jurisdiction over the matter.  The receiver shall at all times be subject to
the direction and supervision of the commissioner. [L 1993, c 350, pt of §1]