§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:



(1)  That the escrow depository will honestly,
faithfully, and with diligence apply all funds, other consideration, or
property and instruments affecting title in accordance with the instructions
under which the same were deposited with it, and will promptly account for the
same; and



(2)  That the escrow depository will satisfy all
judgments and decrees which may be recovered against it in any action or
proceeding brought under this chapter.



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]