Section 15-301-19 - Corporation's rights upon default of loan With respect to any loan made under this chapter, which is in default under the terms thereof, 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 security agreement;(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 September 17 2007] (Auth: HRS § 201H-81) (Imp: HRS § 201H-81)