HRS §412:2-412
What a receiver can do for a failed financial institution
Read the official text at capitol.hawaii.gov ↗This section explains the receiver's role for a Hawaii financial institution. The receiver must follow state rules unless federal law overrides them. Once in charge, the receiver can take over the institution's assets, collect money owed to it, and take needed actions, all under the commissioner's supervision.
financial institutions
The statute, as written — Duties and powers of receiver
A copy, taken August 20, 2026. The version published by the Legislature is the one that governs, and it may have changed since. Check it before relying on anything here.
(a) A receiver of a Hawaii financial institution shall observe the provisions of this part, except to the extent preempted by applicable federal law. (b) Upon assuming office, the receiver may: (1) Immediately take possession of the assets of the Hawaii financial institution with all the rights and powers of the shareholders or members, directors and officers with the authority to conduct all business of the Hawaii financial institution; (2) Collect all obligations and money due the Hawaii financial institution; and (3) Take such action as may be necessary to carry out the purposes of the receivership, consistent with the receiver's appointment order, and as may be required by law, the commissioner or any court having jurisdiction over the matter. The receiver shall at all times be subject to the direction and supervision of the commissioner.
LawTrove is not legal advice. The summary above is a computer-generated restatement — the authoritative text is the official version linked above.