Section 15-169-22 - Corporation's rights upon default of loan With respect to any loan in default made under this chapter, the corporation may:
(1) Renegotiate, refinance or foreclose the loan;(2) Waive any default or consent to the modification of the terms of the loan or the mortgage;(3) Commence any action to protect or enforce any right conferred upon the corporation by any law, mortgage, insurance policy, contract or other agreement;(4) Bid for and purchase the property secured by the loan at any foreclosure or other sale, or acquire or take possession of the property secured by the loan; or(5) Operate, manage, lease, dispose of, or otherwise deal with the property secured by the loan. [Eff OCT 25 1999] (Auth: HRS §§ 2016-4, 2016-321) (Imp: HRS § 2016-324)