(a) At any time when the balance remaining in the contractors recovery fund is less than $250,000, the board may assess every contractor a fee not to exceed $500 annually for deposit in the contractors recovery fund.

Terms Used In Hawaii Revised Statutes 444-27

  • Board: means the contractors license board. See Hawaii Revised Statutes 444-1
  • Contractor: means any person who by oneself or through others offers to undertake, or holds oneself out as being able to undertake, or does undertake to alter, add to, subtract from, improve, enhance, or beautify any realty or construct, alter, repair, add to, subtract from, improve, move, wreck, or demolish any building, highway, road, railroad, excavation, or other structure, project, development, or improvement, or do any part thereof, including the erection of scaffolding or other structures or works in connection therewith. See Hawaii Revised Statutes 444-1
(b) The failure of any contractor to pay the assessment within sixty days from the date of assessment shall constitute a forfeiture of the contractor’s license. The board may impose other penalties or requirements as a condition of restoration of the license.

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