Hawaii Administrative Rules
Title 16 - DEPARTMENT OF COMMERCE AND CONSUMER AFFAIRS
Chapter 106 - TIME SHARING
Subchapter 11 - BOND
Section 16-106-42 - Cancellation of bond
Universal Citation: HI Admin Rules 16-106-42
Current through August, 2024
(a) A surety company may cancel the bond by giving thirty days notice in writing to the director and to the time share owners association; provided that cancellation of the bond shall not relieve a surety company from liability for any cause of action arising out of acts which may have occurred during the period of the bond.
(b) A registrant who has filed a cash bond may cancel the bond by giving thirty days notice in writing to the director; provided that the security for the bond shall not be returned for a period of six years after the effective date of cancellation of the bond.
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