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Hawaii Revised Statutes Division 2. Business § 431:4-315

Current as of January 01, 2025 | Updated by Findlaw Staff

(a) The officers and directors of an insurer violating section 431:4-314 shall be jointly and severally liable to the insurer for any excess of expenses incurred.

(b) For failure or refusal of the insurer to exercise reasonable diligence in enforcing such liability, the commissioner may:

(1) Prosecute action thereon for the benefit of the insurer; and

(2) Revoke the insurer's certificate of authority.

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Cite this article: FindLaw.com - Hawaii Revised Statutes Division 2. Business § 431:4-315 - last updated January 01, 2025 | https://codes.findlaw.com/hi/division-2-business/hi-rev-st-sect-431-4-315/

FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature before relying on it for your legal needs.

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