§412:2-506  Charter or license.  In any
acquisition pursuant to this part, a charter or license shall be required for:



(1)  Any Hawaii financial institution resulting from a
consolidation of an acquirer with a failing financial institution; and



(2)  Any new corporation (except a federal financial
institution) formed to merge with or acquire the assets of a failing financial
institution pursuant to this chapter, whether or not a provisional approval to
organize has been issued to such corporation. [L 1993, c 350, pt of §1]