Report Title:
Contractors; Licensing
Description:
Permits an equivalent bond to be used by a licensed contractor rather than liability insurance.
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THE SENATE |
S.B. NO. |
124 |
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TWENTY-THIRD LEGISLATURE, 2005 |
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STATE OF HAWAII |
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A BILL FOR AN ACT
relating to contractors.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF HAWAII:
SECTION 1. Section 444-11.1, Hawaii Revised Statutes, is amended as follows:
1. By amending subsection (a) to read:
"(a) A licensed contractor shall have and maintain in full force and effect the following:
(1) Workers' compensation insurance; unless the licensee is authorized to act as a self-insurer under chapter 386 or is excluded from the requirements of chapter 386;
(2) Liability insurance from an insurance company or agency for comprehensive personal injury and property damage liability[; and] or an equivalent bond in such amount as determined by the board; and
(3) Bond when required by the board, under section 444-16.5."
2. By amending subsection (c) to read:
"(c) The board shall not restore the forfeited license until satisfactory proof of continuous insurance [and] or bond [coverages] coverage is submitted to the board as required by this section."
SECTION 2. Statutory material to be repealed is bracketed and stricken. New statutory material is underscored.
SECTION 3. This Act shall take effect upon its approval.
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INTRODUCED BY: |
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