HRS §431:4-315
Who pays when an insurer spends too much
Read the official text at capitol.hawaii.gov ↗If an insurer spends more than allowed, its officers and directors must pay back the extra amount. If the insurer does not try to collect, the insurance commissioner can sue for the insurer and can cancel the insurer's license.
The statute, as written — Violation of expense limitation
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.
(a) The officers and directors of an insurer violating section 431:4-314 shall be jointly and severally liable to the insurer for any excess of expenses incurred. (b) For failure or refusal of the insurer to exercise reasonable diligence in enforcing such liability, the commissioner may: (1) Prosecute action thereon for the benefit of the insurer; and (2) Revoke the insurer's certificate of authority.
Sections this one refers to
§431:4-314 Limit on spending for certain insurance policies
LawTrove is not legal advice. The summary above is a computer-generated restatement — the authoritative text is the official version linked above.