reglab/housing_qa huggingface dataset:
HI Rev Stat § 412:2-312 (2021)
2021 Hawaii Revised Statutes|Title 22. Banks and Financial Institutions|412. Code of Financial Institutions|412:2-312 Suspension or revocation; procedure; hearing; enforcement.

 §412:2-312 Suspension or revocation; procedure; hearing; enforcement. (a) The notice of charges and the proposed order of suspension or revocation shall be in writing and served upon the Hawaii financial institution at its principal office in this State. The notice of charges shall state the alleged grounds and a summary of the facts upon which such allegations are based. The notice shall be accompanied by a proposed order stating the commissioner's intention to suspend or revoke the institution's charter or license. The notice of charges shall set forth a time and place for a hearing to determine whether the suspension or revocation order shall be issued.  (b) Within twenty days after service, unless an earlier or later date is set by the commissioner upon request of the affected institution, the commissioner shall hold a hearing in accordance with chapter 91. If no appearance is made at the scheduled hearing by the party or the party's authorized representative, the party shall be deemed to have consented to [the] issuance of the suspension or revocation order and the commissioner may issue an order of suspension or revocation. Any suspension or revocation order issued after a hearing held in accordance with this subsection shall become effective after service upon the affected institution and shall remain effective until modified or terminated by the commissioner. Any appeal of a suspension or revocation order shall be made to the circuit court in accordance with chapter 91.  (c) On or after the effective date of any suspension or revocation order, the commissioner may apply for enforcement of the order to the circuit court. [L 1993, c 350, pt of §1] Rules of Court  Appeals, see HRCP rule 72.
HI Rev Stat § 412:2-313 (2021)
2021 Hawaii Revised Statutes|Title 22. Banks and Financial Institutions|412. Code of Financial Institutions|412:2-313 Consent suspension and revocation order.

 §412:2-313 Consent suspension and revocation order. Any Hawaii financial institution may waive its right to a hearing on any notice of charges by stipulating and consenting to the issuance of an order suspending or revoking a license or charter. Any final suspension or revocation order issued by consent shall be effective as of the date specified therein and shall remain effective until modified or terminated by the commissioner. [L 1993, c 350, pt of §1]
HI Rev Stat § 412:2-314 (2021)
2021 Hawaii Revised Statutes|Title 22. Banks and Financial Institutions|412. Code of Financial Institutions|412:2-314 Action to correct capital and surplus impairment.

 §412:2-314 Action to correct capital and surplus impairment. (a) Whenever it appears to the commissioner that the capital and surplus of a Hawaii financial institution is impaired, the commissioner shall notify the financial institution in writing to correct the impairment within a reasonable time specified by the commissioner, which time may be extended by the commissioner.  (b) If the Hawaii financial institution fails to correct the impairment of its capital and surplus as required, the commissioner may immediately appoint a conservator, or may close the financial institution, appoint a receiver to take possession of its assets, and proceed with the liquidation of its assets. A financial institution placed in conservatorship pursuant to this subsection may, with the consent of the commissioner, later resume business upon the conditions as the commissioner may approve. [L 1993, c 350, pt of §1; am L 1994, c 107, §3] Rules of Court  Receivers, see HRCP rule 66.
HI Rev Stat § 412:2-315 (2021)
2021 Hawaii Revised Statutes|Title 22. Banks and Financial Institutions|412. Code of Financial Institutions|412:2-315 National or state emergencies.

 §412:2-315 National or state emergencies. (a) The emergency powers granted in this section may be invoked for the purpose of protecting the general public during any national or state emergency by assuring that Hawaii financial institutions subject to regulation by the commissioner can operate in a safe and effective manner.  (b) If the President of the United States declares a national emergency, by proclamation or otherwise, the commissioner may order some or all Hawaii financial institutions in the State to comply with any regulations, limitations or restrictions prescribed by the Secretary of the Treasury, the Comptroller of the Currency, the Federal Reserve Board, or other federal agency that would otherwise be applicable only to a federal financial institution.  (c) If the governor declares a state emergency, by proclamation or otherwise, the commissioner may order some or all Hawaii financial institutions in the State to observe such temporary rules, limitations or restrictions as the commissioner may prescribe in order to cope with such emergency.  (d) The commissioner may assess and collect from all affected Hawaii financial institutions their ratable share of the administrative costs incurred by the division in its administration of any emergency orders issued under this section. Administrative costs assessed under this section shall be deposited into the compliance resolution fund established under section 26-9(o). The determination of the commissioner of which Hawaii financial institution or institutions are "affected" and the proration method the commissioner chooses to employ in making assessments under this section may be appealed to the circuit court as provided in chapter 91 by any Hawaii financial institution aggrieved thereby. [L 1993, c 350, pt of §1; am L 1996, c 207, §3; am L 1999, c 129, §9] Rules of Court  Appeals, see HRCP rule 72.
HI Rev Stat § 412:2-400 (2021)
2021 Hawaii Revised Statutes|Title 22. Banks and Financial Institutions|412. Code of Financial Institutions|412:2-400 Grounds for appointment of conservator or receiver.

Rules of Court Receivers, see HRCP rule 66.  §412:2-400 Grounds for appointment of conservator or receiver. A conservator or receiver may be appointed to take possession and control of a Hawaii financial institution if such financial institution:  (1) Is insolvent or has failed to correct an impairment of its capital and surplus as provided in section 412:2-314 of this chapter;  (2) Is not likely to be able to meet the demands of its depositors or pay its debts in the normal course of business;  (3) Is in an unsafe or unsound condition to transact business;  (4) Has incurred or is likely to incur losses that will deplete all or substantially all of its capital and surplus, and there is no reasonable prospect for such capital and surplus to be replenished without federal assistance;  (5) Has violated or is violating laws, rules or regulations, or has committed or is committing an unsafe or unsound practice, and such violation or practice is likely to cause insolvency or substantial dissipation of assets, or is likely to severely weaken the institution's condition or otherwise seriously prejudice the interests of its depositors;  (6) Without lawful cause has concealed from or has refused to provide to the commissioner the institution's books, papers, records, information, or assets for inspection by the commissioner or by any lawful agent of the commissioner; or  (7) Has wilfully violated or is wilfully violating a cease and desist order of the commissioner which has become effective. [L 1993, c 350, pt of §1]
HI Rev Stat § 412:2-401 (2021)
2021 Hawaii Revised Statutes|Title 22. Banks and Financial Institutions|412. Code of Financial Institutions|412:2-401 Appointment of conservator or receiver; judicial review.

 §412:2-401 Appointment of conservator or receiver; judicial review. (a) The commissioner may, without notice or prior hearing, appoint a conservator or receiver for a Hawaii financial institution by a written order setting forth the grounds for such appointment and any other conditions of the conservatorship or receivership as the commissioner deems appropriate, including without limitation the temporary or permanent closure of the financial institution. The commissioner may also require the conservator or receiver other than a federal insurer to obtain a security bond, at the expense of the financial institution, in an amount that the commissioner deems appropriate.  (b) Upon being served with any written order pursuant to subsection (a), the persons in charge of the Hawaii financial institution shall forthwith turn over possession and control of the institution to the conservator or receiver, and upon request by the conservator or receiver shall vacate the premises. The conservator or receiver may apply to the circuit court for injunctive or other relief to enforce the conservatorship or receivership.  (c) Not later than twenty days after the initial appointment of the conservator or receiver, the persons who were in charge of the affected Hawaii financial institution immediately prior to the appointment of a conservator or receiver may bring an action in the circuit court for an order requiring the commissioner to terminate the conservatorship or receivership.  (d) All judicial proceedings under this section shall be closed to the public and shall take precedence over all other pending cases before the court and shall in every other way be expedited. The commissioner's decision to appoint a conservator or receiver shall be set aside only if the court finds that such decision was arbitrary, capricious, an abuse of discretion, or otherwise not in accordance with law. [L 1993, c 350, pt of §1] Rules of Court  Injunctions, see HRCP rule 65.
HI Rev Stat § 412:2-402 (2021)
2021 Hawaii Revised Statutes|Title 22. Banks and Financial Institutions|412. Code of Financial Institutions|412:2-402 Additional grounds for appointment.

 §412:2-402 Additional grounds for appointment.  The commissioner may also appoint a conservator or receiver to take over the possession and control of any Hawaii financial institution:  (1) Which consents to such appointment by an affirmative vote of a majority of its board of directors, or by a majority vote of its shareholders or members; or  (2) Whose status as an insured institution has been involuntarily terminated by the federal insurer of its deposits or accounts. An appointment pursuant to this section shall not be subject to judicial review. [L 1993, c 350, pt of §1]
HI Rev Stat § 412:2-403 (2021)
2021 Hawaii Revised Statutes|Title 22. Banks and Financial Institutions|412. Code of Financial Institutions|412:2-403 Who may serve as conservator or receiver.

 §412:2-403 Who may serve as conservator or receiver. The commissioner, deputy commissioner, federal insurer of the Hawaii financial institution's deposits or accounts or other qualified person may serve as a conservator or receiver. Except for the commissioner, deputy commissioner, or federal insurer, every conservator and receiver must consent in writing to serve in such capacity, and before assuming such position shall sign an engagement agreement agreed upon by the person and the commissioner. [L 1993, c 350, pt of §1]
HI Rev Stat § 412:2-404 (2021)
2021 Hawaii Revised Statutes|Title 22. Banks and Financial Institutions|412. Code of Financial Institutions|412:2-404 Federal insurer as conservator or receiver; subrogation.

 §412:2-404 Federal insurer as conservator or receiver; subrogation. (a) A federal insurer of the Hawaii financial institution's deposits or accounts who serves as a conservator or receiver shall acquire both legal and equitable title to all assets, rights or claims and to all real or personal property of the institution, to the extent necessary to perform such duties or as may be necessary under applicable federal law to effectuate such appointment.  (b) If a federal insurer pays or makes available for payment its insurance proceeds to the depositors of an institution under conservatorship or receivership, the federal insurer shall be subrogated to the rights of such depositors, whether or not the federal insurer has become conservator or receiver thereof, in the same manner and to the same extent as it would be subrogated in the conservatorship or receivership of a federal financial institution insured by such federal insurer. [L 1993, c 350, pt of §1]
HI Rev Stat § 412:2-405 (2021)
2021 Hawaii Revised Statutes|Title 22. Banks and Financial Institutions|412. Code of Financial Institutions|412:2-405 Removal or replacement of conservator or receiver.

 §412:2-405 Removal or replacement of conservator or receiver. The commissioner may remove or replace a conservator or receiver other than a federal insurer effective upon notice thereof, and with or without cause. Such removal or replacement shall not subject either the commissioner or the court to any liability to the conservator or receiver. Such removal or replacement shall not affect the financial institution's right to obtain judicial review of the commissioner's original decision to appoint a conservator or receiver under section 412:2-401. [L 1993, c 350, pt of §1]
HI Rev Stat § 412:2-406 (2021)
2021 Hawaii Revised Statutes|Title 22. Banks and Financial Institutions|412. Code of Financial Institutions|412:2-406 Compensation and expenses of conservator or receiver.

 §412:2-406 Compensation and expenses of conservator or receiver. All expenses of any conservatorship or receivership shall be paid out of the assets of the Hawaii financial institution and shall be a lien on the assets, which shall be prior to any other lien provided by this chapter or otherwise. Such expenses shall include without limitation, all costs and expenses incurred by the State, conservator, receiver and any other person for rent, utilities, telephones, travel, equipment, supplies, and employee salaries and benefits (including state employees). No compensation shall be paid to the commissioner, the deputy commissioner or federal insurer for serving as conservator or receiver, but other persons serving in such capacity may receive a salary commensurate with the responsibilities of such position. [L 1993, c 350, pt of §1]
HI Rev Stat § 412:2-407 (2021)
2021 Hawaii Revised Statutes|Title 22. Banks and Financial Institutions|412. Code of Financial Institutions|412:2-407 Stay of judicial proceedings.

 §412:2-407 Stay of judicial proceedings. All non-criminal judicial proceedings to which the Hawaii financial institution in conservatorship or receivership, is a party at the time of the appointment of a conservator or receiver, including without limitation any action, hearing, judgment, execution, attachment, summons, discovery or deposition, shall be stayed automatically for a period of forty-five days after the appointment of the conservator or ninety days after the appointment of a receiver. The conservator or receiver may apply to the court presiding over the judicial proceedings for an extension of the stay, which shall be granted only upon a showing that the resumption of the proceeding will substantially detract from the purposes of the conservatorship or receivership and will not significantly diminish the potential recovery or remedy of the other party or parties in the judicial proceedings. [L 1993, c 350, pt of §1] Rules of Court  Stay of proceedings, see HRCP rule 62.
HI Rev Stat § 412:2-408 (2021)
2021 Hawaii Revised Statutes|Title 22. Banks and Financial Institutions|412. Code of Financial Institutions|412:2-408 Duties and powers of conservator.

 §412:2-408 Duties and powers of conservator. (a) A conservator 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 conservator may:  (1) Immediately take possession of the assets of the Hawaii financial institution and operate the 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;  (3) Preserve and conserve the assets and property of the Hawaii financial institution;  (4) Set aside and make available for withdrawal by depositors and payment to other creditors on a ratable basis such amounts as in the opinion of the commissioner may safely be used for this purpose; and  (5) Take such action as may be necessary to carry out the purposes of the conservatorship, consistent with the conservator's appointment order, and as may be required by law, the commissioner or any court having jurisdiction over the matter. Provided, however, that the conservator shall at all times be subject to the direction and supervision of the commissioner. [L 1993, c 350, pt of §1]
HI Rev Stat § 412:2-409 (2021)
2021 Hawaii Revised Statutes|Title 22. Banks and Financial Institutions|412. Code of Financial Institutions|412:2-409 Conservator's segregation of deposits.

 §412:2-409 Conservator's segregation of deposits. (a) In the commissioner's discretion, the commissioner may order or permit a conservator to accept deposits, notwithstanding the insolvency of the Hawaii financial institution; provided, that such deposits so received shall not be subject to any limitation as to payment or withdrawal, shall be segregated and kept apart from prior deposits, and shall not be used to liquidate any indebtedness of the institution existing at inception of the conservatorship or any subsequent debt incurred for the purpose of liquidating such prior indebtedness. Such deposits received by the conservator shall be kept in cash, invested in direct obligations of the United States, or deposited with a federally insured financial institution.  (b) Any order requiring segregation of deposits under this section shall remain effective no longer than thirty days after the conservator has returned possession and control of the affairs of the Hawaii financial institution to its board of directors. At least thirty days prior to the resumption of such possession and control, the conservator shall publish in a newspaper of general circulation in every county where the financial institution has places of business open to the public, a notice stating the date that possession and control will be returned to the board of directors, and that deposits received during the conservatorship will no longer be segregated in accordance with this section more than thirty days after that date. The notice shall be in a form approved by the commissioner and shall also be conspicuously posted at the principal office and each branch and agency office of the financial institution. The notice shall also be mailed to every person who has deposited funds with the institution during the conservatorship at the depositor's last known address as reflected in the records of the institution. [L 1993, c 350, pt of §1]
HI Rev Stat § 412:2-410 (2021)
2021 Hawaii Revised Statutes|Title 22. Banks and Financial Institutions|412. Code of Financial Institutions|412:2-410 Supervised reorganization.

 §412:2-410 Supervised reorganization. (a) The commissioner and, with the commissioner's written approval, any conservator appointed pursuant to this part, may reorganize a Hawaii financial institution in conservatorship, provided that:  (1) The reorganization will be accomplished under a plan which the commissioner finds is fair and equitable to all depositors, beneficiaries, creditors, and shareholders or members, and is in the public interest;  (2) The commissioner has approved of the plan in writing, subject to such conditions, restrictions, and limitations as the commissioner may deem appropriate;  (3) Notice of the plan has been given to all depositors (except depositors whose deposits have been paid in full by a federal deposit insurer or assumed by a federally insured financial institution), creditors, and shareholders or members in a form and manner satisfactory to the commissioner; and  (4) After such notice, the reorganization plan shall have been consented to in writing by:  (A) Depositors representing at least seventy-five per cent of the amount of the financial institution's total deposits which will not be satisfied in full under the plan of reorganization;  (B) Creditors representing at least seventy-five per cent of the total amount of the claims of general creditors of the financial institution which will not be satisfied in full under the plan of reorganization;  (C) Subordinated creditors representing at least seventy-five per cent of the total amount of the claims of each class of debt subordinated by law or by contract to the claims of general creditors which will not be satisfied in full under the plan of reorganization; and  (D) Shareholders holding at least two-thirds of each class of the capital stock of the financial institution.  (b) If the foregoing requirements have been met, the commissioner shall issue a certificate to the Hawaii financial institution indicating that the reorganization plan, a copy of which shall be attached to the certificate, has been properly approved, and setting forth any conditions that the commissioner deems appropriate, as well as the effective date of the reorganization.  (c) Once any reorganization has become effective as provided herein, it shall be binding upon all depositors, creditors, and shareholders or members of the Hawaii financial institution, whether or not they have consented to the plan of reorganization, and all claims of such persons shall be treated as if they had consented to the plan of reorganization.  (d) When the reorganization becomes effective, all books, records, and assets of the Hawaii financial institution shall be disposed of in accordance with the plan and the affairs of the financial institution shall be conducted by its board of directors in the manner provided by the plan and under any conditions, restrictions, and limitations prescribed by the commissioner. [L 1993, c 350, pt of §1]
HI Rev Stat § 412:2-411 (2021)
2021 Hawaii Revised Statutes|Title 22. Banks and Financial Institutions|412. Code of Financial Institutions|412:2-411 Termination of conservatorship.

 §412:2-411 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. [L 1993, c 350, pt of §1]
HI Rev Stat § 412:2-412 (2021)
2021 Hawaii Revised Statutes|Title 22. Banks and Financial Institutions|412. Code of Financial Institutions|412:2-412 Duties and powers of receiver.

 §412:2-412 Duties and powers of receiver. (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. [L 1993, c 350, pt of §1]