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FDIC Enforcement Decisions and Orders

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{{8-31-03 p.C-5788}}

   [12,061] In the Matter of GECC Financial Corporation, Honolulu, Hawaii, Docket No. 03-017p (6-24-03).

   Status of bank as insured state nonmember bank terminated.

In the Matter of
GECC FINANCIAL CORPORATION
HONOLULU, HAWAII
(Insured State Nonmember Bank)
ORDER OF TERMINATION OF INSURANCE

FDIC-03-017p

   Pursuant to section 8(p) of the Federal Deposit Insurance Act, 12 U.S.C. §1818(p), the Federal Deposit Insurance Corporation ("FDIC") hereby finds that GECC Financial Corporation, Honolulu, Hawaii("Insured Institution"), is not engaged in the business of receiving deposits, other than trust funds, and issues the following ORDER:

ORDER

   IT IS HEREBY ORDERED, that the status of the Insured Institution as an insured
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   state nonmember bank, be and hereby is, terminated at the expiration of December 31, 2003, which is the last day of the first full semiannual assessment period following the date of issuance of this ORDER.

   IT IS FURTHER ORDERED, that the Insured Institution notify its depositors, if any, of the termination of its insured status no later than November 30, 2003, in the manner required by section 308.124(c) of the FDIC's Rules of Practice and Procedure, 12 C.F.R. §308.124(c).

   Pursuant to delegated authority.

   Dated at Washington, D.C., this 24th day of June, 2003.

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Last Updated 10/2/2003 legal@fdic.gov