(1) Permit the resulting or converting financial institution to retain the nonconforming assets or liabilities or to continue the otherwise unpermitted activities for such periods and subject to such conditions and limitations as the director determines, by rule or order, will not be injurious to the safety and soundness of the resulting or converting financial institution; or
(2) Grant the resulting or converting financial institution a reasonable time to conform with applicable law. [Formerly 711.055]