At the request of an insurer, the director of finance may designate any solvent trust company or other solvent financial institution having trust powers, domiciled in the United States, as the director's depositary to receive and hold any such deposit. Any deposit so held shall be at the expense of the insurer.
Haw. Rev. Stat. § 431:7-306
Director may designate depositary
Known as the Insurance Code
The act spans §§ 431–431 (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.