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Current as of January 01, 2025 | Updated by Findlaw Staff
The authority of any intra-Pacific bank to engage in the business of a bank in this State pursuant to this part shall automatically terminate at such time as it no longer meets the definition of an intra-Pacific bank under section 412:5-400. In such case it shall:
(1) Immediately notify the commissioner of that circumstance;
(2) Cease accepting deposits in this State, and cease making loans and investments in this State;
(3) Within thirty days, adopt a plan for the orderly liquidation of its assets, or its orderly divestiture pursuant to this chapter, and submit such plan to the commissioner; and
(4) Take such other measures and actions as shall be directed by the commissioner.
Cite this article: FindLaw.com - Hawaii Revised Statutes Division 2. Business § 412:5-404 - last updated January 01, 2025 | https://codes.findlaw.com/hi/division-2-business/hi-rev-st-sect-412-5-404/
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