§412:2-501  Commissioner's determination offailing institution.  (a)  Upon determining that a Hawaii financialinstitution is a failing financial institution, the commissioner shall servewritten notice of such determination to the institution.  The notice shall setforth the basis for the commissioner's determination, and shall indicate thatthe commissioner intends to implement the provisions of this part.

(b)  If the financial institution contests thecommissioner's determination, it shall petition the circuit court to enjoin thecommissioner's action, not more than five days after receiving notice of thecommissioner's determination that it is a failing financial institution.  Ahearing on the petition shall be held not more than fifteen days after thepetition is filed, and in all other respects the matter shall be expedited. The hearing under this subsection shall be closed to the public.

(c)  [L 2004, c 202, §48 amendmentrepealed June 30, 2010.  L 2006, c 94, §1.]  An order by the circuit courtmade pursuant to this section may be appealed to the intermediate appellatecourt, subject to chapter 602, but no stay of the order shall be grantedpending such appeal.

(d)  All court records, documents and files ofthe financial institution, the division of financial institutions, and thecourt, so far as they pertain to or are part of the record of the proceedings,shall be and remain confidential.  The court may, after hearing the argumentsfrom the parties in chambers, order disclosure of documents for good cause. Unless otherwise ordered, all papers filed with the court shall be sealed fromthe public and held in a confidential file.

(e)  Nothing in this section shall preclude anyaction by the commissioner under any of the other powers granted to thecommissioner by this chapter. [L 1993, c 350, pt of §1; am L 2004, c 202, §48]

 

Note

 

  L 2004, c 202, §82 provides:

  "SECTION 82.  Appeals pending in the supremecourt as of the effective date of this Act [July 1, 2006] may be transferred tothe intermediate appellate court or retained at the supreme court as the chiefjustice, in the chief justice's sole discretion, directs."

 

Rules of Court

 

  Appeals to appellate courts, how taken, see HRAP rule 3.