HAR §16-28-36. Escrow depository's bond

(a) The escrow depository shall file and execute an escrow depository's bond in a form prescribed by the commissioner in an amount not less than $100,000. No deductible amount shall be permitted. 28-12 §16-28-39 (b) In lieu of the escrow depository's bond, the escrow depository may deposit $100,000 in the form of a certificate of deposit, an unconditional and irrevocable letter of credit, or securities acceptable to the commissioner, together, in each instance, with 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: HRS §449-9)