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Hawaii Revised Statutes

Haw. Rev. Stat. § 431:15-335 (2025)

Unclaimed and withheld funds

✓ laws through the 2025 session: the 2026 session is not included
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     §431:15-335  Unclaimed and withheld funds.  (a)  All unclaimed funds subject to distribution remaining in the liquidator's hands when the liquidator is ready to apply to the court for discharge, including the amount distributable to any creditor, shareholder, member, or other person who is unknown or cannot be found, shall be deposited with the director of finance, and shall be paid without interest except in accordance with section 431:15-332 to the person entitled thereto or the person's legal representative upon proof satisfactory to the director of finance of the person's right thereto.  Any amount on deposit not claimed within six years from the discharge of the liquidator shall be deemed to have been abandoned and shall be escheated without formal escheat proceedings and be deposited with the general fund.

     (b)  All funds withheld under section 431:15-327 and not distributed, shall upon discharge of the liquidator be deposited with the compliance resolution fund and paid by the liquidator in accordance with section 431:15-332.  Any sums remaining that under section 431:15-332 would revert to the undistributed assets of the insurer shall be transferred to the compliance resolution fund and become the property of the State under subsection (a), unless the commissioner in the commissioner's discretion petitions the court to reopen the liquidation under section 431:15-337. [L 1987, c 347, pt of §2; am L 1999, c 163, §15; am L 2000, c 182, §14; am L 2002, c 39, §16]

 

 

Notes of Decisions
Cited in 1 case, 2015–2015 · leading case: Ito v. Investors Equity Life Holding Co.., 346 P.3d 118 (Haw. 2015).
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Ito v. Investors Equity Life Holding Co.., 346 P.3d 118 (Haw. 2015). · cites it 5× “7 Thus, taking HRS § 431:15-332’s lowest priority class of claimants, consisting of shareholders or other owners, together with HRS § 431:15-335’s express requirement to hold funds subject to discharge for shareholders, including shareholders or owners that are “unknown or…”
Haw. Rev. Stat. § 431:15-335(a): 1 case
Ito v. Investors Equity Life Holding Co.., 346 P.3d 118 (Haw. 2015). “7 Thus, taking HRS § 431:15-332’s lowest priority class of claimants, consisting of shareholders or other owners, together with HRS § 431:15-335’s express requirement to hold funds subject to discharge for shareholders, including shareholders or owners that are “unknown or…”
Haw. Rev. Stat. § 431:15-335(a)(2005): 1 case
Ito v. Investors Equity Life Holding Co.., 346 P.3d 118 (Haw. 2015). “7 Thus, taking HRS § 431:15-332’s lowest priority class of claimants, consisting of shareholders or other owners, together with HRS § 431:15-335’s express requirement to hold funds subject to discharge for shareholders, including shareholders or owners that are “unknown or…”
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