reglab/housing_qa huggingface dataset:
HI Rev Stat § 431:3-205 (2021)
2021 Hawaii Revised Statutes|Title 24. Insurance|431. Insurance Code|431:3-205 Funds required of new insurers.

  §431:3-205 Funds required of new insurers. Subject to section 431:3-203(a)(2), to qualify to transact any one class of insurance, an insurer, not existing and authorized in this State on July 1, 1988, shall:  (1) Deposit in a federally insured financial institution within the State, paid-up capital stock in the case of a stock insurer, or unimpaired surplus if:  (A) A reciprocal insurer; or  (B) A mutual insurer that does not seek to qualify upon the basis of applications and premiums collected as provided in sections 431:4-303 to 431:4-307,  in an amount not less than shown in the applicable Schedule "A";  (2) Maintain this deposit at all times while the insurer is licensed and transacting insurance in this State; and  (3) Secure the approval of the commissioner before making withdrawals from the depository. Schedule "A"  Class of Insurance Amount Required  Life $ 600,000  Accident and Health or Sickness 450,000  Property 750,000  Marine and Transportation 1,000,000  Vehicle 1,000,000  General Casualty 1,500,000  Surety 1,000,000  Title 400,000. [L 1987, c 347, pt of §2 as superseded by c 348, §2; am L 1989, c 195, §13; am L 2003, c 212, §20; am L 2018, c 18, §24]
HI Rev Stat § 431:3-206 (2021)
2021 Hawaii Revised Statutes|Title 24. Insurance|431. Insurance Code|431:3-206 Additional funds required, new insurers.

  §431:3-206 Additional funds required, new insurers. In addition to the paid-up capital stock or unimpaired surplus as required under section 431:3-205 and section 431:3-208, the following insurers shall possess when first authorized:  (1) In the case of domestic stock or reciprocal insurers not existing and authorized in this State on July 1, 1988, or domestic mutual insurers not existing and authorized in this State on July 1, 1988, which qualify upon the basis of possession of surplus in lieu of applications and premiums collected as provided in section 431:4-303 to section 431:4-307, bona fide additional surplus equaling in amount not less than fifty per cent of the capital stock or surplus otherwise required for the class or classes of insurance proposed to be transacted; or  (2) In the case of foreign and alien insurers which have been insurers for less than five years except if as a result of a reorganization (including a merger, corporate acquisition, or formation of a subsidiary), bona fide additional surplus in an amount not less than fifty per cent of the capital stock or surplus otherwise required for the class or classes of insurance which the insurer is authorized to transact in its domicile. [L 1987, c 347, pt of §2; am L 1989, c 207, §2]
HI Rev Stat § 431:3-207 (2021)
2021 Hawaii Revised Statutes|Title 24. Insurance|431. Insurance Code|431:3-207 Noncompliance as to capital stock and surplus permitted certain insurers for five years.

  §431:3-207 Noncompliance as to capital stock and surplus permitted certain insurers for five years. (a) A domestic or foreign insurer holding a valid certificate of authority to transact insurance in this State as of July 1, 1988, for a period of five years after that date, may continue to transact the kinds of insurance permitted by the certificate of authority by complying with this code and by maintaining unimpaired not less than the same amount of paid-in capital stock or surplus, if a mutual or reciprocal insurer, as required under the laws of this State immediately prior to July 1, 1988, and as if the laws had continued in force. After the five-year period, the insurer shall have and maintain not less than the same amount of paid-in capital stock and surplus as is then required of domestic stock insurers newly formed.  (b) An insurer specified in subsection (a) shall not be granted authority to transact any other or additional kinds of insurance after the five-year period specified unless it then fully complies with the capital and surplus requirements applied to all the kinds of insurance it then proposes to transact, as provided under section 431:3-205 as to new domestic insurers. [L 1987, c 347, pt of §2]
HI Rev Stat § 431:3-208 (2021)
2021 Hawaii Revised Statutes|Title 24. Insurance|431. Insurance Code|431:3-208 Funds required of existing and new insurers for transacting additional classes of insurance.

  §431:3-208 Funds required of existing and new insurers for transacting additional classes of insurance. (a) An insurer otherwise qualified may be authorized to transact combinations of classes of insurance while having on deposit in a federally insured financial institution within the State, additional paid-up capital stock in the case of a stock insurer, or additional unimpaired surplus in the case of a mutual or reciprocal insurer, subject to subsection (c) as to domestic mutual or reciprocal insurers, and subject to section 431:3-203(a)(2). An insurer wanting to transact additional classes of insurance must:  (1) Maintain at all times, in a federally insured financial institution within the State, capital if a stock insurer, or surplus, if a mutual or reciprocal insurer, equal to the sum required of each individual class of insurance it desires to transact, as listed in Schedule "A" of section 431:3-205;  (2) Maintain a sum total not to exceed $2,500,000; and  (3) Obtain first the approval by the commissioner for any withdrawals from this deposit.  (b) An insurer while possessing in a federally insured financial institution within the State, $2,500,000 of capital in the case of a stock insurer, or of unimpaired surplus in the case of a reciprocal or mutual insurer, may be authorized to transact all classes of insurance, subject to sections 431:3-204 to 431:3-206.  (c) To qualify for authority to transact a combination of classes of insurance, a domestic mutual or reciprocal insurer shall deposit in a federally insured financial institution within the State, surplus in an amount equal to the paid-up capital stock required of stock insurers for authority to transact a like combination of classes of insurance. [L 1987, c 347, pt of §2 as superseded by c 348, §3]
HI Rev Stat § 431:3-209 (2021)
2021 Hawaii Revised Statutes|Title 24. Insurance|431. Insurance Code|431:3-209 Deposits of alien and foreign insurers; special deposits.

  §431:3-209 Deposits of alien and foreign insurers; special deposits. (a) To qualify for and hold a certificate of authority, an alien or foreign insurer must deposit and maintain on deposit assets equal in amount to either the amount of paid-up capital stock in the case of a stock insurer, or surplus, in the case of a mutual or reciprocal insurer, required of a domestic insurer to transact a business of insurance in like class or classes of insurance, or the amount of $500,000, whichever amount is the greater.  (b) The deposit shall be for the security of all policyholders and obligees of the insurer in the United States. It shall not be subject to diminution below the amount currently determined in accordance with subsection (a) so long as the insurer has outstanding any liabilities arising out of its business transacted in the United States.  (c) The deposit shall be maintained with the commissioner. In lieu of the deposit or part thereof, the commissioner shall accept the certificate of the public official having supervision over insurance in another state showing that deposits by the insurer, or like part thereof, maintained by the insurer in that state for the benefit of all of the insurer's policyholders in the United States or all of its policyholders and obligees in the United States, if the total deposit in this State and those evidenced by the certificate or certificates is in an amount not less than the amount required pursuant to subsection (a).  (d) The commissioner may require the foreign or alien insurer to place in a special deposit an amount determined by the commissioner in a federally insured financial institution within the State. [L 1987, c 347, pt of §2 as superseded by c 348, §4]
HI Rev Stat § 431:3-210 (2021)
2021 Hawaii Revised Statutes|Title 24. Insurance|431. Insurance Code|431:3-210 Determination of capital funds of alien insurer.

  §431:3-210 Determination of capital funds of alien insurer. (a) The capital funds of an alien insurer shall be deemed to be the amount by which its assets exceed its liabilities with respect to its business transacted in the United States.  (b) Assets of such insurer held in any state for the special protection of policyholders and obligees in such state shall not constitute assets of the insurer for the purpose of this code. Liabilities of the insurer so secured by such assets but not exceeding the amount of such assets, may be deducted in computing the insurer's liabilities for the purpose of this section. [L 1987, c 347, pt of §2]
HI Rev Stat § 431:3-211 (2021)
2021 Hawaii Revised Statutes|Title 24. Insurance|431. Insurance Code|431:3-211 REPEALED.

  §431:3-211 REPEALED. L 1997, c 12, §1 and c 233, §6.
HI Rev Stat § 431:3-212 (2021)
2021 Hawaii Revised Statutes|Title 24. Insurance|431. Insurance Code|431:3-212 Application for authority.

  §431:3-212 Application for authority. To apply for an original certificate of authority, an insurer shall file with the commissioner a Uniform Certificate of Authority Application from the National Association of Insurance Commissioners that shall set forth or be accompanied by all of the following:  (1) The insurer's request showing:  (A) Its name, in compliance with sections 431:3-202(b) and 431:4-104(d)(1), home office location, type of insurer, organization date, state or country of its domicile, and name and location of the principal office of its attorney-in-fact, if a reciprocal insurer;  (B) The classes of insurance it proposes to transact; and  (C) Additional information as the commissioner may reasonably require.  (2) Documents including the following:  (A) A copy of its charter as amended or certified by the proper public officer of the state or country of domicile, if a foreign or alien insurer;  (B) A copy of its bylaws as amended, certified by its proper officer;  (C) A copy of its annual statement as of December 31 last preceding;  (D) An appointment of the commissioner as its attorney to receive service of legal process, if a foreign or alien insurer or a domestic reciprocal insurer;  (E) The name and business address of its authorized resident agent upon whom process may be served in all cases, if a foreign or alien insurer;  (F) A copy of the appointment and authority of its United States manager, certified by its proper officer, if an alien insurer;  (G) A certificate from the proper public official of its state or country of domicile showing that it is duly organized and authorized to transact the classes of insurance proposed to be transacted, if a foreign or alien insurer;  (H) The declaration required by section 431:4-409, if a domestic reciprocal insurer;  (I) A certificate of the proper public official as to any deposit made or held in compliance with this code;  (J) A copy of the report of the last examination made of the insurer certified by the insurance supervisory official of its state of domicile or entry into the United States, if a foreign or alien insurer; and  (K) Other documents or stipulations as the commissioner may reasonably require to evidence compliance with this code.  (3) A deposit with the commissioner of the appropriate fees required by this code. [L 1987, c 347, pt of §2; am L 2002, c 155, §7; am L 2003, c 212, §21; am L 2017, c 152, §3]
HI Rev Stat § 431:3-212.5 (2021)
2021 Hawaii Revised Statutes|Title 24. Insurance|431. Insurance Code|431:3-212.5 Redomestication of authorized insurers.

  §431:3-212.5 Redomestication of authorized insurers. (a) The certificate of authority, producer appointments and licenses, rates, and other items allowed by the commissioner, which are in existence at the time an insurer authorized to transact insurance business in this State transfers its corporate domicile to this or any other state by merger, consolidation, or any other lawful method shall continue in full force and effect upon such transfer if the insurer remains qualified to transact insurance business in this State. For purposes of this section, an insurer transferring its corporate domicile to this State remains qualified to transact insurance business in this State if it meets the organization and licensing requirements applicable to the same type of domestic insurer. All outstanding policies of a transferring insurer shall remain in full force and effect and need not be endorsed as to the new name of the company or its new location unless so ordered by the commissioner.  (b) Each transferring insurer shall file new policy forms on or before the effective date of the transfer, if such forms are required to be approved by the commissioner. The insurer may use existing policy forms with appropriate endorsements if permitted by the commissioner. Every transferring insurer shall notify the commissioner of the details of the proposed transfer and shall file promptly a Uniform Certificate of Authority Application for any resulting amendments to corporate documents filed or required to be filed with the commissioner.  (c) The commissioner may apply this section to any domestication occurring in another state by an authorized United States branch of an alien insurer. [L 1991, c 181, §1; am L 2002, c 155, §8; am L 2004, c 122, §9; am L 2017, c 152, §4] Cross References  Redomestication--captive insurers, see § §431:19-102.3 and 431:19-102.4.
HI Rev Stat § 431:3-213 (2021)
2021 Hawaii Revised Statutes|Title 24. Insurance|431. Insurance Code|431:3-213 Authority issued or denied.

  §431:3-213 Authority issued or denied. (a) If the commissioner finds that an insurer has met the requirements for and is fully entitled thereto under this code, the commissioner shall issue to it a proper certificate of authority.  (b) If the commissioner does not so find, the commissioner shall deny the insurer certificate of authority within a reasonable length of time following filing of the application by the insurer.  (c) The certificate of authority of a reciprocal insurer shall be issued to its attorney in the name of the insurer. [L 1987, c 347, pt of §2]
HI Rev Stat § 431:3-214 (2021)
2021 Hawaii Revised Statutes|Title 24. Insurance|431. Insurance Code|431:3-214 Extension; amendment.

  §431:3-214 Extension; amendment. (a) No certificate of authority shall contain an expiration date, but all certificates of authority shall be extended by the commissioner from time to time in order to continue to be valid. When the commissioner issues or extends a certificate of authority, the commissioner shall determine the date prior to which the certificate of authority must be extended and shall so notify the insurer in writing. This date is called the extension date. The extension date shall be any date not less than one year and not more than three years after date of issue or extension of the certificate of authority. If the insurer qualifies, its certificate of authority shall be extended. The commissioner shall provide each holder of a certificate of authority at least thirty days' advance written notice of the applicable extension date.  (b) The commissioner shall amend a certificate of authority at any time in accordance with changes in the insurer's charter or insuring powers. [L 1987, c 347, pt of §2; am L 2015, c 63, §4]
HI Rev Stat § 431:3-215 (2021)
2021 Hawaii Revised Statutes|Title 24. Insurance|431. Insurance Code|431:3-215 Withdrawal from State; obligations.

  §431:3-215 Withdrawal from State; obligations. (a) No insurer other than a life insurer shall withdraw from this State until its direct liability to its policyholders and obligees under all its insurance contracts then in force in this State has been assumed by another authorized insurer under an agreement approved by the commissioner.  (b) The assuming insurer shall, within a reasonable time, replace the assumed insurance contracts with its own, or by endorsement thereon acknowledge its liability under the assumed contracts.  (c) Six months prior to withdrawing from this State, an insurer shall file an affidavit with the commissioner showing that:  (1) It desires to withdraw from this State and to discontinue business in this State; and  (2) All of its outstanding policies have been either reinsured or have expired. If the outstanding policies are reinsured, the withdrawing insurer shall also submit the reinsurer's affidavit stating that it has reinsured all the outstanding policies of the withdrawing insurer upon risks in this State or upon business originating in this State. The reinsurer shall be an insurer authorized to carry on the business of insurance in this State.  (d) The insurer shall return for cancellation its current certificate of authority and licenses for producers issued by the commissioner.  (e) Six months prior to withdrawing from this State, an insurer shall, in addition to other requirements, publish in this State a notice of withdrawal once each week for the first eight successive weeks, and again in the last four successive weeks in the sixth month in a newspaper of daily circulation; provided that the commissioner shall have the discretion to waive the notice requirement. The notice of withdrawal as published shall have the prior approval of the commissioner. [L 1987, c 347, pt of §2; am L 1993, c 199, §1; am L 2002, c 155, §9; am L 2004, c 122, §10]
HI Rev Stat § 431:3-216 (2021)
2021 Hawaii Revised Statutes|Title 24. Insurance|431. Insurance Code|431:3-216 Mandatory refusal, suspension or revocation provisions.

  §431:3-216 Mandatory refusal, suspension or revocation provisions. The commissioner shall suspend, revoke, or refuse to extend an insurer's certificate of authority in addition to other grounds in this code, if the insurer:  (1) Is a domestic stock insurer and has assets less in amount than its liabilities, including its capital stock less amounts required for the class of insurance or combination of classes of insurance as a liability, and has failed to make good such deficiency as required by the commissioner.  (2) Is a domestic mutual or domestic reciprocal insurer, and fails to make good a deficiency of assets as required by the commissioner.  (3) Is a foreign or alien insurer and no longer qualifies or meets the requirements for the authority.  (4) Knowingly exceeds its charter powers or its certificate of authority. [L 1987, c 347, pt of §2]
HI Rev Stat § 431:3-217 (2021)
2021 Hawaii Revised Statutes|Title 24. Insurance|431. Insurance Code|431:3-217 Discretionary refusal, suspension or revocation provisions.

  §431:3-217 Discretionary refusal, suspension or revocation provisions. After a hearing the commissioner may suspend, revoke, or refuse to extend an insurer's certificate of authority, in addition to other grounds in this code, if the insurer:   (1) Knowingly fails to comply with or, in the case of a reciprocal insurer, if the attorney fails to comply with, or violates any provision of this code other than those for violation of which refusal, suspension or revocation is mandatory;  (2) Knowingly fails to comply with any proper order of the commissioner;  (3) Is found by the commissioner upon examination, or other evidence, to be in unsound condition or in a condition as to render its further proceedings in this State hazardous to the public or to its policyholders in this State;  (4) Refuses to remove or discharge a director or officer who has been convicted of any crime involving fraud or dishonesty;  (5) Commits or performs with a frequency as to indicate a general business practice any act which compels claimants under policies either to accept less than the amount due them or to bring suit against it to secure full payment of the amount due;  (6) Is affiliated with and under the same general management, interlocking directorate, or ownership as another insurer which transacts insurance other than reinsurance in this State without having a certificate of authority therefor, except as is permitted by this code;  (7) Refuses to be examined, or if its directors, officers, employees, or representatives refuse to submit to examination or give testimony concerning its affairs, or to produce its accounts, records, and files for examination by the commissioner when required by this code, or refuses to perform any legal obligation relative to the examination;  (8) Fails to pay any final judgment rendered against it upon any policy, bond, recognizance, or undertaking issued or guaranteed by it, within sixty days after the judgment became final or within sixty days after time for taking an appeal has expired or within sixty days after dismissal of an appeal before final determination, whichever date is the later; or  (9) Fails to file its annual statement when due or within any extension of time which the commissioner may for good cause have granted. [L 1987, c 347, pt of §2 as superseded by c 349, §2]
HI Rev Stat § 431:3-218 (2021)
2021 Hawaii Revised Statutes|Title 24. Insurance|431. Insurance Code|431:3-218 Procedure upon revocation; suspension of certificate of authority.

  §431:3-218 Procedure upon revocation; suspension of certificate of authority. Upon revoking, suspending, or refusing to extend an insurer's authority to transact insurance, the commissioner shall forthwith:  (1) Give notice thereof to the insurer not fewer than ten days in advance of the effective date of the revocation or suspension;  (2) Likewise revoke or suspend all producers' authority to represent the insurer in this State and give notice thereof to the producers; and  (3) Give notice thereof to the insurance supervisory official of each other state in which the insurer is authorized to transact insurance; provided that notice to the National Association of Insurance Commissioners shall satisfy this requirement. [L 1987, c 347, pt of §2; am L 2001, c 216, §6; am L 2004, c 122, §11]
HI Rev Stat § 431:3-219 (2021)
2021 Hawaii Revised Statutes|Title 24. Insurance|431. Insurance Code|431:3-219 Suspension period; revocation.

  §431:3-219 Suspension period; revocation.  (a) Except as otherwise expressly provided in this code, the commissioner may suspend an insurer's certificate of authority for a period not to exceed one year. The commissioner shall state in the commissioner's order of suspension the period during which it shall be effective.  (b) After the completion of the original suspension period, the commissioner may order additional extensions of the suspension or revoke an insurer's certificate of authority pursuant to section 431:3-218, provided there is a basis for the extended suspension or revocation and the insurer has an opportunity for a hearing prior to the imposition of the extended suspension or revocation. [L 1987, c 347, pt of §2; am L 2005, c 132, §2]
HI Rev Stat § 431:3-220 (2021)
2021 Hawaii Revised Statutes|Title 24. Insurance|431. Insurance Code|431:3-220 Revival.

  §431:3-220 Revival. An insurer whose certificate of authority has been suspended, revoked, or refused may subsequently be authorized if:  (1) The grounds for the suspension, revocation, or refusal no longer exist and the insurer is otherwise fully qualified; and  (2) The insurer has reimbursed the commissioner for all reasonable and necessary expenses incurred by virtue of the suspension, revocation, or reinstatement of the certificate of authority. [L 1987, c 347, pt of §2]