HRS §431:4-124
Insurers cannot guarantee personal debts of their leaders
Read the official text at capitol.hawaii.gov ↗This law stops insurance companies and their related companies from promising to pay the personal debts of their directors or officers. Any such promise is invalid. It does not apply to normal insurance policies or surety bonds the company issues.
The statute, as written — Prohibited guaranty
A copy, taken August 20, 2026. The version published by the Legislature is the one that governs, and it may have changed since. Check it before relying on anything here.
No domestic insurer or its affiliates or subsidiaries shall guarantee the financial obligation of any director or officer of such insurer or affiliate or subsidiary in the director's or officer's personal capacity, and any such guaranty attempted shall be void. This prohibition shall not apply to obligations of the insurer under surety bonds or insurance contracts issued in the regular course of business.
LawTrove is not legal advice. The summary above is a computer-generated restatement — the authoritative text is the official version linked above.