HAR §16-75-33. Certificate of insurance

A licensee who has a board as trustee of the trust fund shall obtain insurance in accordance with section 441-41 (b)(2), HRS, if the institution where the trust fund is held does not federally insure the full amount of the fund. A certificate of insurance from an insurance company or agency, showing full policy coverage of the licensee for the amount of the fund held in trust shall be submitted within one year from the date of original licensure and with every biennial renewal period of the license. The insurance policy shall provide that the insurer will give written notice of cancellation or termination to the director sixty days before the effective date of the cancellation or termination of the insurance. [Eff 11/19/87; comp 1/21/92] (Auth: HRS §441-19) (Imp: HRS §441-41)