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§ 412-3-615 — Hawaii Law | CourtGPT
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  4. Title 22 - Banks and Financial Institutions412. Code of Financial Institutions412:1-100 Short Title/
  5. Chapter 412/
  6. § 412-3-615
Hawaii Legal Code

§ 412-3-615

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§412:3-615 Nonconforming assets or business. If a Hawaii financial institution resulting from a conversion, merger, consolidation, acquisition, or assumption by law may no longer own certain types of assets once it undergoes the conversion, merger, consolidation, acquisition, or assumption, or if it may no longer engage in certain types of business activities, the commissioner shall, as part of the order approving the transaction, allow a reasonable time within which the institution may divest itself of the nonconforming assets or business activities in order to conform with law. [L 1993, c 350, pt of §1]