Hawaii § 102-11 - Security for performance; conditions.
Full text of Hawaii Hawaii Revised Statutes § 102-11 — Security for performance; conditions., with citation guidance and answers to common questions.
§ 102-11. Security for performance; conditions.
(a) Before any contract is entered into, the party with whom the contract is proposed to be made shall give security for the performance thereof as follows: (1) For a concession required to provide security under the contract in an amount less than four months' rental and other charges, if any: (A) A good and sufficient bond; (B) A deposit of legal tender; or (C) A certificate of deposit, share certificate, cashier's check, treasurer's check, teller's check, or official check drawn by, or a certified check accepted by, a bank, savings institution, or credit union insured by the Federal Deposit Insurance Corporation or the National Credit Union Administration; and (2) For a concession required to provide security under the contract in an amount equal to or greater than four months' rental and other charges, if any: a good and sufficient bond. (b) All security provided under this section shall: (1) Be conditioned on the full and faithful performance of the contract in accordance with the terms and intent thereof; (2) Be in an amount not less than two months' rental and other charges, if any, required under the contract; provided that any contract for the sale and delivery of in-bond merchandise at the Daniel K. Inouye International Airport shall require a bond in an amount not less than four months of the highest minimum annual rental guaranty required under the contract; and (3) By its terms inure to the benefit of the State or of the county, as the case may be. [L 1959, c 245, §9; Supp, §7B-9; HRS §102-11; am L 1982, c 141, §1; am L 2006, c 37, §2; am L 2018, c 18, §2] Previous Vol02_Ch0046-0115 Next
Frequently Asked Questions About Hawaii § 102-11
What does Hawaii Revised Statutes § 102-11 cover?
Section 102-11 ("Security for performance; conditions.") is part of the Hawaii Revised Statutes, the codified statutory law of Hawaii. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Hawaii § 102-11?
A common citation format is "Hawaii Revised Statutes § 102-11" (Hawaii). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Hawaii law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Hawaii official source linked on this page or consult a licensed Hawaii attorney.
How does Hawaii § 102-11 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Hawaii can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Hawaii.