HRS §431:7-301
Who handles insurer deposits and what rules apply
The state finance director accepts deposits of securities or money from insurance companies, through the insurance commissioner. These deposits are required for getting a license to sell insurance in Hawaii, in other states, or are extra deposits allowed by law. If this part conflicts with article 3, article 3 wins.
state agencies
The statute, as written — Deposits of insurers
(a) The director of finance shall accept, when made through the commissioner, deposits of securities or funds by insurers as follows: (1) Deposits in amount as required to be made as prerequisite to a certificate of authority to transact insurance in this State. (2) Deposits of insurers in amount as required to be made by the laws of other states as prerequisites for authority to transact insurance in such other states. (3) Deposits in other additional amounts permitted to be made by this part. (b) This part shall apply to the deposits listed in this section unless expressly inconsistent with the provisions of article 3 of this code, in which case the provisions of article 3 shall prevail.
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