Haw. Rev. Stat. § 449-12
Errors and omissions insurance or other security devices
Hawaii · Hawaii Revised Statutes Chapter 449 — Escrow Depositories · Status: effective
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- Citation
- Haw. Rev. Stat. § 449-12, Errors and omissions insurance or other security devices, Hawaii, version 1 as recorded 2026-10-03, yourstate.us, https://yourstate.us/provision/2425486
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Full text
[See Note below.] A licensed escrow depository shall at all times either:
(1) Maintain a policy of errors and omissions insurance executed by an insurer authorized to do business in the State in an amount not less than $250,000; provided that any policy which is subject to a deductible thereunder in excess of $100,000, per occurrence, shall require the prior approval of the commissioner, who may take into consideration, among other factors, the amount of the proposed coverage; or
(2) Deposit an equivalent amount of cash or other security device under such terms and conditions as are acceptable to the commissioner.