§449-8  Issuance and renewal of license. 
After approval of the application, and payment of the license fee, the
commissioner shall issue to the applicant a license to act as an escrow
depository.  The license shall be effective only upon the applicant's filing
with the commissioner an escrow depository's bond and evidence that fidelity
bonds and errors and omissions insurance, or cash or securities deposits
permitted in lieu thereof, have been obtained, all as provided in sections
449-9, 449-11, and 449-12.  The license shall be renewed annually, as of July
1, upon payment of the annual renewal fee and the finding of the commissioner,
from the information contained in the annual corporate exhibit of the licensee
or investigation or hearing, that the licensee continues to meet the
qualifications for licensing and has continued in force the bonds and insurance
or the cash or securities deposits permitted in lieu thereof. [L 1967, c 144,
pt of §1; HRS §449-8; am L 1970, c 72, §1; am L 1985, c 269, §50; am L 1992, c
205, §9]