Hawaii Revised Statutes 412:2-407 – Stay of judicial proceedings
Terms Used In Hawaii Revised Statutes 412:2-407
- Attachment: A procedure by which a person's property is seized to pay judgments levied by the court.
- Conservator: means a person appointed by the commissioner to take possession and control of a Hawaii financial institution for a temporary period in order to preserve and protect the assets of the institution for the benefit of its depositors, beneficiaries, creditors, and shareholders or members. See Hawaii Revised Statutes 412:1-109
- Deposition: An oral statement made before an officer authorized by law to administer oaths. Such statements are often taken to examine potential witnesses, to obtain discovery, or to be used later in trial.
- Discovery: Lawyers' examination, before trial, of facts and documents in possession of the opponents to help the lawyers prepare for trial.
- 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
- Receiver: means a person appointed by the commissioner to take possession and control of a Hawaii financial institution for the purpose of liquidating and winding up the affairs of the institution. See Hawaii Revised Statutes 412:1-109
- Summons: Another word for subpoena used by the criminal justice system.
All non-criminal judicial proceedings to which the Hawaii financial institution in conservatorship or receivership, is a party at the time of the appointment of a conservator or receiver, including without limitation any action, hearing, judgment, execution, attachment, summons, discovery or deposition, shall be stayed automatically for a period of forty-five days after the appointment of the conservator or ninety days after the appointment of a receiver. The conservator or receiver may apply to the court presiding over the judicial proceedings for an extension of the stay, which shall be granted only upon a showing that the resumption of the proceeding will substantially detract from the purposes of the conservatorship or receivership and will not significantly diminish the potential recovery or remedy of the other party or parties in the judicial proceedings.