Hawaii Revised Statutes 431:4-320 – Lien on reserves
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Terms Used In Hawaii Revised Statutes 431:4-320
- Lien: A claim against real or personal property in satisfaction of a debt.
As to life insurance, any portion of an assessment of contingent liability upon a policyholder which remains unpaid following notice of such assessment, demand for payment, and lapse of a reasonable waiting period as specified in such notice, may, if approved by the commissioner, be secured by placing a lien on the reserves held by the insurer to the credit of the policyholder.