§412:2-506 - Charter or license. - Hawaii Statutes

     §412:2-506  Charter or license.  In any acquisition pursuant to this part, a charter or license shall be required for:

     (1)  Any Hawaii financial institution resulting from a consolidation of an acquirer with a failing financial institution; and

     (2)  Any new corporation (except a federal financial institution) formed to merge with or acquire the assets of a failing financial institution pursuant to this chapter, whether or not a provisional approval to organize has been issued to such corporation. [L 1993, c 350, pt of §1]