Any director of a domestic stock insurer who votes for or concurs in the declaration or payment of any dividend to stockholders or a reduction of capital stock not authorized by law shall, in addition to any other liability imposed by law, be guilty of violation of this code.
Haw. Rev. Stat. § 431:4-205
Illegal dividends; reductions
Known as the Insurance Code
The act spans §§ 431:10-101 to 431:9N-104 (1,434 sections).
L 1987, c 347, pt of §2
Official source: Hawaii State Legislature. Reproduced from public-domain Hawaii statutes; confirm against the official source for the current text. Not legal advice.