The policies of insurance purchased pursuant to and in accordance with the director of budget and fiscal services’ risk management program shall be procured from companies authorized to do business in the State of Hawaii and according to the applicable laws and ordinances on competitive bidding.
(Sec. 2-16.3, R.O. 1978 (1987 Supp. to 1983 Ed.)) (1990 Code, Ch. 2, Art. 5, § 2-5.3) (Am. Ords. 91-27, 97-02, 16-29)