HRS §449-8
Getting and renewing an escrow depository license
After your application is approved and you pay the fee, the state issues your escrow depository license. The license only works after you file required bonds and insurance. You must renew it every year by December 31, pay the fee, and show you still qualify.
businesses
The statute, as written — ‑8 Issuance and renewal of license
After approval of the application, and payment of the license fee, the commissioner shall issue to the applicant a license to act as an escrow depository. The license shall be effective only upon the applicant's filing with the commissioner an escrow depository's bond and evidence that fidelity bonds and errors and omissions insurance, or cash or securities deposits permitted in lieu thereof, have been obtained, all as provided in sections 449‑9, 449‑11, and 449‑12. The license shall be renewed annually, as of December 31, upon payment of the annual renewal fee and the finding of the commissioner, from the information contained in the annual corporate exhibit of the licensee or investigation or hearing, that the licensee continues to meet the qualifications for licensing and has continued in force the bonds and insurance or the cash or securities deposits permitted in lieu thereof.
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