§287-11 Form and amount of security.
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§287-11 Form and amount of security. The security required under this chapter shall be in such form and in such amount as the administrator may require but in no case in excess of the limits specified in section 287-7 in reference to the acceptable limits of a policy or bond. The person depositing security shall specify in writing the person or persons on whose behalf a deposit is made and, at any time while the deposit is in the custody of the administrator or the treasurer or director of finance of the county, the person depositing it may, in writing, amend the specification of the person or persons on whose behalf deposit is made to include an additional person or persons; provided that a single deposit of security shall be applicable only on behalf of persons required to furnish security because of the same accident.
The administrator may reduce the amount of security ordered in any case within six months after the date of the accident, if in the administrator's judgment the amount ordered is excessive and the excess deposited over the reduced amount ordered shall be returned to the depositor or the depositor's personal representative forthwith notwithstanding section 287-12. [L 1949, c 393, pt of §1; RL 1955, §160-90; HRS §287-11; am L 1980, c 84, pt of §1; gen ch 1985]