§287-12 Custody, disposition, and return of security.
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§287-12 Custody, disposition, and return of security. Security deposited in compliance with the requirements of this chapter shall be placed by the administrator in the custody of the county treasurer or director of finance and shall be applicable only to the payment of a judgment or judgments rendered against the person or persons on whose behalf the deposit was made, for damages arising out of the accident in question in an action, begun not later than one year after the date of the accident or within one year after the date of deposit of any security under section 287-9(3), and the deposit or any balance thereof shall be returned to the depositor or the depositor's personal representative when:
(1)Pursuant to section 287-8(5), evidence satisfactory to the administrator has been filed with the administrator that there has been a release from liability, or a final adjudication of nonliability, or the execution of a duly acknowledged written agreement; or
(2)After the expiration of one year from the date of the accident or from the date of deposit of any security under section 287-9(3), the administrator is given reasonable evidence that there is no pending action and no judgment rendered in the action left unpaid.
The security deposited shall not be subject to any attachment or execution unless the attachment or execution arises out of a suit for damages as described in this section. [L 1949, c 393, pt of §1; RL 1955, §160-91; HRS §287-12; am L 1980, c 84, pt of §1; gen ch 1985; am L 2020, c 70, §36]