HRS §444-27
Extra fees to keep contractor fund funded
When the contractor recovery fund drops below $250,000, the board can charge each contractor up to $500 per year to refill it. If a contractor does not pay within 60 days, their license is forfeited. The board can also set other penalties or conditions to get the license back.
contractors
The statute, as written — Additional payments to fund
(a) At any time when the balance remaining in the contractors recovery fund is less than $250,000, the board may assess every contractor a fee not to exceed $500 annually for deposit in the contractors recovery fund. (b) The failure of any contractor to pay the assessment within sixty days from the date of assessment shall constitute a forfeiture of the contractor's license. The board may impose other penalties or requirements as a condition of restoration of the license.
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