Haw. Code R. § 16-71-4.5 - Minimum insurance requirements for a professional corporation

(a) Pursuant to section 415A-11, HRS, a professional accounting corporation may provide security for professional responsibility by procuring errors and omissions insurance or a surety bond issued by an insurance company, or any combination thereof, as the corporation may elect.

(b) The minimum amount of errors and omissions insurance or surety bond issued by an insurance company for a professional accounting corporation shall be $100,000 for each shareholder; provided that the minimum amount for each professional accounting corporation shall not be less than $250,000.

Notes

Haw. Code R. § 16-71-4.5

[Eff and comp 1/30/10; comp 2/13/12] (Auth: HRS § 466-4) (Imp: HRS §§ 415A-11, 466-4) [Comp 11/27/2021]