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