If the agreement filed with the director under section 12-11-21(2) is the agreement of an employer, or of an association of employers, or an association of employees authorized to pay benefits, or a trust or trustee under a plan paying benefits, the acceptance of the plan shall terminate forthwith on default, after notice, in any payment required to be made to the director in accordance with section 392-47 or 392-67, HRS.
Haw. Code R. § 12-11-23