Haw. Code R. § 16-28-35 - Net capital bond

(a) In lieu of the net capital requirement of $50,000, an escrow depository may file a bond for $50,000, in a form prescribed by the commissioner, conditional upon its satisfactory performance of escrow conditions and satisfaction of escrow responsibilities. The escrow depository shall request the approval of the commissioner to file a $50,000 bond, cash in the amount of $50,000, or a combination of its net capital and bond totalling $50,000.

(b) For cash bonds, the escrow depository shall file an agreement in a form prescribed by the commissioner.

Notes

Haw. Code R. § 16-28-35

[Eff 8/13/87; am and comp 1/27/01; comp 8/04/05] (Auth: HRS § 449-2) (Imp: § 449-5.5)