HRS §431:7-306
Choosing a bank to hold insurer deposits
When an insurance company asks, the finance director can pick a U.S.-based trust company or bank with trust powers to hold the insurer's deposit. The insurer pays for this service.
financial institutions
The statute, as written — Director may designate depositary
At the request of an insurer, the director of finance may designate any solvent trust company or other solvent financial institution having trust powers, domiciled in the United States, as the director's depositary to receive and hold any such deposit. Any deposit so held shall be at the expense of the insurer.
LawTrove is not legal advice. The summary above is a computer-generated restatement — the authoritative text is the official version linked above.