Haw. Code R. § 16-24-22 - Amount of bond or security device
(a) Subject to
subsection (b), each application shall be accompanied by a surety bond,
irrevocable letter of credit, or other similar security device acceptable to
the commissioner in an amount no less than $1,000.
(b) The commissioner may increase the amount
of the bond or security device required, to a maximum of $500,000, on the basis
of criteria determined by the commissioner to be relevant, including but not
limited to:
(1) The amount by which the daily
average of outstanding instruments of an applicant exceeds the amount of its
permissible investments, if any;
(2) The applicant's net worth; and
(3) The applicant's volume of transactions
expressed as a dollar amount.
Notes
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