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



(b)  If the financial institution contests the
commissioner's determination, it shall petition the circuit court to enjoin the
commissioner's action, not more than five days after receiving notice of the
commissioner's determination that it is a failing financial institution.  A
hearing on the petition shall be held not more than fifteen days after the
petition 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 amendment
repealed June 30, 2010.  L 2006, c 94, §1.]  An order by the circuit court
made pursuant to this section may be appealed to the intermediate appellate
court, subject to chapter 602, but no stay of the order shall be granted
pending such appeal.



(d)  All court records, documents and files of
the financial institution, the division of financial institutions, and the
court, 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 arguments
from the parties in chambers, order disclosure of documents for good cause. 
Unless otherwise ordered, all papers filed with the court shall be sealed from
the public and held in a confidential file.



(e)  Nothing in this section shall preclude any
action by the commissioner under any of the other powers granted to the
commissioner 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 supreme
court as of the effective date of this Act [July 1, 2006] may be transferred to
the intermediate appellate court or retained at the supreme court as the chief
justice, in the chief justice's sole discretion, directs."



 



Rules of Court



 



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