HRS §432G-3
Dental insurer leaders must protect company money
People in charge of a dental insurer's money must handle it carefully and honestly for the company. The insurer must buy a bond or insurance to protect against employee or leader theft, with a minimum amount set by law.
employees
The statute, as written — Fiduciary responsibilities
(a) Any director, officer, employee, or partner of a dental insurer who receives, collects, disburses, or invests funds in connection with the activities of an organization shall be responsible for the funds in a fiduciary relationship to the organization. (b) A dental insurer shall maintain in force a fidelity bond or fidelity insurance on employees, officers, directors, and partners subject to subsection (a) in an amount not less than $250,000 for each dental insurer or a maximum of $5,000,000 in aggregate maintained on behalf of dental insurers owned by a common parent corporation, or a sum as may be prescribed by the commissioner.
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