Section 16-27-22 - Institutions rated "4" or "5"(a) Institutions with UFIRS or NRS composite ratings of "4" or "5" by definition will have problems of sufficient severity to warrant formal supervisory and enforcement action. Formal action may be taken against institutions rated "4" or "5", where evidence of an unsafe or unsound practice or condition is present. The formal action may consist of a cease and desist order, or order to suspend or remove an institution-affiliated party.(b) The commissioner may consider not taking formal action when the condition of the institution reflects significant improvement resulting from an effective corrective program or where individual circumstances strongly mitigate the appropriateness of the action.[Eff 8/13/87; am and comp 1/27/01] (Auth: HRS §§ 412:2-100, 412:2-107, 412:2-300, 412:2-301, 412:12-109, 412:13-224) (Imp: HRS §§ 412:2-100, 412:2-300, 412:2-301, 412:2-302, 412:2-306, 412:2-308, 412:2-311, 412:2-314, 412:2-315, 412:2-400, 412:2-401, 412:2-402, 412:2-500, 412:2-501, 412:2-600, 412:2-601, 412:12-109, 412:13-224, 412:13-228, 412:13-229, 412:13-230)