Hawaii Revised Statutes 431:4-315 – Violation of expense limitation

(a) The officers and directors of an insurer violating § 431:4-314 shall be jointly and severally liable to the insurer for any excess of expenses incurred.

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Terms Used In Hawaii Revised Statutes 431:4-315

Prosecute: To charge someone with a crime. A prosecutor tries a criminal case on behalf of the government.

(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.

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Hawaii Revised Statutes 431:4-315 – Violation of expense limitation

Terms Used In Hawaii Revised Statutes 431:4-315

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