HRS §412:3-600
Which financial deals this part covers
This part applies to certain big changes involving Hawaii financial institutions, like merging, selling assets, taking over, or closing down. It also covers holding companies that control these institutions, and people or companies doing these deals with them. Federal law limits some parts.
businessesfinancial institutions
The statute, as written — Applicability of this part
This part applies to: (1) The conversion, merger, consolidation, acquisition of assets or assumption of liabilities or deposits, acquisition of control, voluntary cessation of business, or voluntary dissolution involving a Hawaii financial institution; (2) The merger, consolidation, or acquisition of control of a financial institution holding company which controls: (A) A Hawaii financial institution; and (B) To the extent permitted by federal law, a federal financial institution whose operations are principally conducted in this State; and (3) All persons who seek to merge or consolidate with, acquire the assets or assume the liabilities of, or acquire control of: (A) A Hawaii financial institution; (B) A financial institution holding company which controls a Hawaii financial institution; and (C) To the extent permitted by federal law, a financial institution holding company which controls a federal financial institution whose operations are principally conducted in this State.
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