HRS §431:4-320
Putting a lien on reserves for unpaid life insurance assessments
If a life insurance policyholder does not pay an assessment after being notified and given a reasonable time, the insurer may, with the commissioner's approval, place a lien on the policyholder's reserves to secure the unpaid amount.
The statute, as written — Lien on reserves
As to life insurance, any portion of an assessment of contingent liability upon a policyholder which remains unpaid following notice of such assessment, demand for payment, and lapse of a reasonable waiting period as specified in such notice, may, if approved by the commissioner, be secured by placing a lien on the reserves held by the insurer to the credit of the policyholder.
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