The surety or cash bond required to be furnished by any school shall be continuous in form and remain in full force and effect and shall run concurrently with the license period and for any renewals thereof, unless terminated or cancelled by the surety. Such termination or cancellation shall not be effective, however, unless notice thereof is delivered by the surety to the board at least sixty days prior to date of termination or cancellation. The certificate of registration of any licensee shall be suspended upon termination or cancellation of the bond, unless prior thereto a new bond has been filed with the board.
Haw. Code R. § 16-78-56