§449-9 Escrow depository's bond. Before an escrow depository's license becomes effective, the escrow depository shall give a bond to the commissioner in the penal sum of not less than $100,000 executed by a surety insurer authorized in this State, conditioned:
The aggregate liability of the surety for all breaches of the conditions of the bond shall, in no event, exceed the penal sum of the bond. In lieu of the bond, an escrow depository may deposit cash, a letter of credit, or securities acceptable to the commissioner. [L 1967, c 144, pt of §1; HRS §449-9; am L 1985, c 269, §50; am L 1992, c 205, §10]