Hawaii Revised Statutes 431:4-315 Violation of Expense Limitation.

§431:4-315 Violation of expense limitation. (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. [L 1987, c 347, pt of §2]

Section: Previous  431-4-308  431-4-309  431-4-310  431-4-311  431-4-312  431-4-313  431-4-314  431-4-315  431-4-316  431-4-317  431-4-318  431-4-319  431-4-320  431-4-321  431-4-322  Next

Last modified: October 27, 2016