Hawaii Revised Statutes 412:2-418 – Transfer of assets in contemplation of insolvency void
Current as of: 2024 | Check for updates
|
Other versions
Terms Used In Hawaii Revised Statutes 412:2-418
- Financial institution: means a Hawaii financial institution, and unless the context indicates otherwise, a federal financial institution or foreign financial institution. See Hawaii Revised Statutes 412:1-109
- Insolvency: means , with respect to a financial institution, that the value of its assets is insufficient to pay its depositors and its creditors. See Hawaii Revised Statutes 412:1-109
All transfers, assignments, and payments by any Hawaii financial institution made after or in contemplation of the institution’s insolvency shall be void if done with the intent to evade this chapter or to accord preference to any depositor or creditor over another.