HRS §431:4-122
Where an insurance company may keep its money
This section says an insurance company can only put its money in a bank that its board of directors (or a board-appointed committee) has officially approved first. It is a narrow rule about choosing a bank.
businesses
The statute, as written — Depositaries
The funds of a domestic insurer shall not be deposited in any bank or banking institution which has not first been approved as a depositary by the insurer's board of directors or by a committee designated for the purpose.
LawTrove is not legal advice. The summary above is a computer-generated restatement — the authoritative text is the official version linked above.