HRS §412:2-507
Fast approval to save a failing financial institution
Read the official text at capitol.hawaii.gov ↗When a Hawaii financial institution is about to fail, the commissioner can quickly approve certain actions to prevent that failure. This includes allowing another institution to open a branch, or giving a new corporation or qualified bidder a charter or license, if they already have provisional approval.
businessesfinancial institutions
The statute, as written — Expedited approvals
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.
If the commissioner finds that immediate action is necessary in order to prevent the probable failure of the Hawaii financial institution, as determined by section 412:2-501, the commissioner shall have the power to issue an expedited approval authorizing the following: (1) In the case of a Hawaii financial institution seeking to acquire the failing financial institution, expedited approval for the establishment of a branch; (2) In the case of a new corporation or for a qualified bidder, a charter for a bank or savings bank or a license to engage in the business of a depository financial services loan company; provided that the applicant has secured provisional approval to organize as required in section 412:2-508.
Sections this one refers to
§412:2-501 What happens when the state says a bank is failing
LawTrove is not legal advice. The summary above is a computer-generated restatement — the authoritative text is the official version linked above.