HRS §431:4-411
Attorney must post a bond to protect the insurer's money
A domestic reciprocal's attorney must file a $25,000 bond with the state insurance commissioner when filing the required declaration. The bond guarantees the attorney will account for all insurer money and property and won't take anything not allowed. It can only be canceled with 60 days' written notice to the attorney and commissioner.
attorneysstate agencies
The statute, as written — Attorney's bond
(a) Concurrently with the filing of the declaration provided for in section 431:4-409, the attorney of a domestic reciprocal shall file with the commissioner a bond in favor of this State. The bond shall be executed by the attorney and by an authorized corporate surety, and shall be subject to the commissioner's approval. (b) The bond shall be in the sum of $25,000 conditioned that the attorney will faithfully account, before a notary public, in a sworn affidavit, for all moneys and other property of the insurer coming into the attorney's hands, and that the attorney will not withdraw or appropriate for the attorney's own use from the funds of the insurer any moneys or property to which the attorney is not entitled under the power of attorney. (c) The bond shall provide that it is not subject to cancellation unless sixty days' advance notice in writing of intent to cancel is given to both the attorney and the commissioner.
Sections this one refers to
§431:4-409 Applying for a Certificate of Authority: What You Must File
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