HRS §412:2-403
Who can be appointed to manage a failed financial institution
This section says who is allowed to act as a conservator or receiver for a Hawaii financial institution. The state banking commissioner, the deputy commissioner, the federal deposit insurer, or another qualified person can serve. Anyone other than those three must agree in writing and sign an engagement agreement approved by the commissioner before starting the job.
financial institutionsstate agencies
The statute, as written — Who may serve as conservator or receiver
The commissioner, deputy commissioner, federal insurer of the Hawaii financial institution's deposits or accounts or other qualified person may serve as a conservator or receiver. Except for the commissioner, deputy commissioner, or federal insurer, every conservator and receiver must consent in writing to serve in such capacity, and before assuming such position shall sign an engagement agreement agreed upon by the person and the commissioner.
LawTrove is not legal advice. The summary above is a computer-generated restatement — the authoritative text is the official version linked above.