HRS §516-174
What the corporation can do when a loan is not paid
This section lists the actions the corporation may take if a loan goes into default. It can renegotiate, refinance, or foreclose, and can also take over and manage the property. It is a list of options, not requirements.
borrowers
The statute, as written — Loans; default
The corporation may: (1) Renegotiate, refinance, or foreclose any loan in default; (2) Waive any default or consent to the modification of the terms of any loan or security agreement; (3) Commence any action to protect or enforce any right conferred upon it by any law, mortgage, insurance policy, contract, or other agreement; (4) Bid for and purchase the property secured by the loan at any foreclosure or other sale, or acquire or take possession of the property secured by the loan; and (5) Operate, manage, lease, dispose of, or otherwise deal with the property secured by the loan.
LawTrove is not legal advice. The summary above is a computer-generated restatement — the authoritative text is the official version linked above.