HRS §412:2-411
Ending a state takeover of a financial institution
The state can end its control of a Hawaii financial institution when it thinks that is wise and good for the public. A court can also order the end. After that, the institution goes back to its board or into receivership, with any conditions set by the state or court.
courtsfinancial institutions
The statute, as written — Termination of conservatorship
The commissioner may terminate a conservatorship of a Hawaii financial institution whenever in the commissioner's judgment such action would be prudent and in the public interest. A conservatorship may also be terminated by order of the circuit court. Upon such termination, the financial institution shall be returned to the possession and control of its board of directors, or be placed in a receivership, subject to any terms and conditions imposed by the commissioner or the court. If placed in receivership, the affected Hawaii financial institution shall be entitled to judicial review as provided in section 412:2 - 401.
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