§412:3-616 - Authority for expedited conversion, merger, consolidation, acquisition, or assumption. - Hawaii Statutes

     §412:3-616  Authority for expedited conversion, merger, consolidation, acquisition, or assumption.  Upon application of all participating financial institutions in a conversion, merger, consolidation, acquisition or assumption, the commissioner may expedite any application for conversion, merger, consolidation, acquisition, or assumption pursuant to this part and order the transaction to take effect immediately; provided that the financial institutions shall have complied with any applicable federal law and provided that the commissioner finds that such expedited action is necessary to protect the financial institutions' depositors, beneficiaries, creditors, or shareholders, or the public.  The commissioner's findings shall be expressed in writing as part of the decision and order approving the conversion, merger, consolidation, acquisition, or assumption. [L 1993, c 350, pt of §1]