HRS §412:2-405
Removing or replacing a conservator or receiver
The state banking commissioner can remove or replace a conservator or receiver at any time, with or without a reason, as long as notice is given. The commissioner and the court are not liable for this action. The financial institution can still ask a court to review the original appointment.
courtsfinancial institutionsstate agencies
The statute, as written — Removal or replacement of conservator or receiver
The commissioner may remove or replace a conservator or receiver other than a federal insurer effective upon notice thereof, and with or without cause. Such removal or replacement shall not subject either the commissioner or the court to any liability to the conservator or receiver. Such removal or replacement shall not affect the financial institution's right to obtain judicial review of the commissioner's original decision to appoint a conservator or receiver under section 412:2-401.
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