reglab/housing_qa huggingface dataset:
HI Rev Stat § 431:3D-105 (2021)
2021 Hawaii Revised Statutes|Title 24. Insurance|431. Insurance Code|431:3D-105 Own risk and solvency assessment summary report.

  §431:3D-105 Own risk and solvency assessment summary report. (a) Upon the commissioner's request, and no more than once each year beginning in 2018, an insurer shall submit to the commissioner an own risk and solvency assessment summary report or any combination of reports that together contain the information described in the Own Risk and Solvency Assessment Guidance Manual, which is applicable to the insurer, the insurance group of which it is a member, or both.  (b) Notwithstanding any request from the commissioner, if the insurer is a member of an insurance group, the insurer shall submit any reports required by this section if the commissioner is the lead state commissioner of the insurance group as determined by the procedures in the Financial Analysis Handbook adopted by the National Association of Insurance Commissioners.  (c) Any reports filed pursuant to this section shall include a signature of the insurance group's chief risk officer or another executive responsible for the oversight of the insurer's enterprise risk management process attesting, to the best of the person's belief and knowledge, that:  (1) The insurer applies the enterprise risk management process described in the own risk and solvency assessment summary report; and  (2) A copy of the report has been provided to the insurer's board of directors or the appropriate committee thereof.  (d) An insurer may comply with subsection (a) by providing the most recent and substantially similar report, which is provided by the insurer or another member of an insurance group of which the insurer is a member, or any combination of reports that together contain the information described in the Own Risk and Solvency Assessment Guidance Manual, to the commissioner of another state or a supervisor or regulator of a foreign jurisdiction if that report provides information comparable to that described in the Own Risk and Solvency Assessment Guidance Manual. Any such report in a language other than English must be accompanied by a translation of that report into the English language. [L 2016, c 140, pt of §1]
HI Rev Stat § 431:3D-107 (2021)
2021 Hawaii Revised Statutes|Title 24. Insurance|431. Insurance Code|431:3D-107 Contents of own risk and solvency assessment summary report.

  §431:3D-107 Contents of own risk and solvency assessment summary report. (a) The own risk and solvency assessment summary report shall be prepared consistent with the Own Risk and Solvency Assessment Guidance Manual and subject to the requirements of subsection (b). Documentation and supporting information shall be maintained and made available upon examination or upon request of the commissioner.  (b) The review of the own risk and solvency assessment summary report and any additional requests for information shall be made using similar procedures currently used in the analysis and examination of multi-state or global insurers and insurance groups. [L 2016, c 140, pt of §1]
HI Rev Stat § 431:3D-109 (2021)
2021 Hawaii Revised Statutes|Title 24. Insurance|431. Insurance Code|431:3D-109 Sanctions.

  §431:3D-109 Sanctions. (a) Any insurer failing without just cause to timely file the own risk and solvency assessment summary report as required in this article shall be required after notice and hearing to pay a penalty of not less than $100 and not more than $500 for each day's delay, which shall be recovered by the commissioner. Any penalty recovered pursuant to this section shall be paid into the compliance resolution fund.  (b) The maximum penalty under this section is $50,000. The commissioner may reduce the penalty if the insurer demonstrates to the commissioner that imposing the penalty would constitute a financial hardship to the insurer. [L 2016, c 140, pt of §1]
HI Rev Stat § 431:3D-110 (2021)
2021 Hawaii Revised Statutes|Title 24. Insurance|431. Insurance Code|431:3D-110 Severability.

 §431:3D-110 Severability. If any provision of this article or its application to any person or circumstance is held invalid, that determination shall not affect the provisions or applications of this article that can be given effect without the invalid provision or application, and to that end, the provisions of this article are severable. [L 2016, c 140, pt of §1]
HI Rev Stat § 431:3G-101 (2021)
2021 Hawaii Revised Statutes|Title 24. Insurance|431. Insurance Code|431:3G-101 Purpose and scope.

 §431:3G-101 Purpose and scope. (a) The purpose of this article is to:  (1) Provide the insurance commissioner a summary of an insurer's or insurance group's corporate governance structure, policies, and practices to permit the commissioner to gain and maintain an understanding of the insurer's corporate governance framework;  (2) Outline the requirements for completing a corporate governance annual disclosure with the commissioner; and  (3) Provide for the confidential treatment of the corporate governance annual disclosure and related information that will contain confidential and sensitive information related to an insurer's or insurance group's internal operations and proprietary and trade secret information that, if made public, could potentially cause the insurer or insurance group competitive harm or disadvantage.  (b) Nothing in this article shall be construed to prescribe or impose corporate governance standards and internal procedures beyond those required under applicable state corporate law. Notwithstanding the foregoing, nothing in this article shall be construed to limit the commissioner's authority, or the rights or obligations of third parties, under sections 431:2-303 and 431:11-107.  (c) The requirements of this article shall apply to all insurers domiciled in this State. [L 2019, c 71, pt of §1]
HI Rev Stat § 431:3G-102 (2021)
2021 Hawaii Revised Statutes|Title 24. Insurance|431. Insurance Code|431:3G-102 Definitions.

 §431:3G-102 Definitions. For the purposes of this article:  "Corporate governance annual disclosure" means a confidential report filed by the insurer or insurance group made in accordance with the requirements of this article.  "Insurance group" means those insurers and affiliates included within an insurance holding company system as defined in article 11.  "Insurer" has the same meaning as in section 431:1-202, except that it shall not include agencies, authorities or instrumentalities of the United States, its possessions and territories, the Commonwealth of Puerto Rico, the District of Columbia, or a state or political subdivision of a state.  "Own risk and solvency assessment summary report" means the report filed in accordance with section 431:3D-105. [L 2019, c 71, pt of §1]
HI Rev Stat § 431:3G-104 (2021)
2021 Hawaii Revised Statutes|Title 24. Insurance|431. Insurance Code|431:3G-104 Rules.

 §431:3G-104 Rules. The commissioner may adopt rules and issue orders to carry out the provisions of this article. [L 2019, c 71, pt of §1]
HI Rev Stat § 431:3G-105 (2021)
2021 Hawaii Revised Statutes|Title 24. Insurance|431. Insurance Code|431:3G-105 Contents of corporate governance annual disclosure.

 §431:3G-105 Contents of corporate governance annual disclosure. (a) The insurer or insurance group shall have discretion over the responses to the corporate governance annual disclosure inquiries; provided that the corporate governance annual disclosure shall contain the material information necessary to permit the commissioner to gain an understanding of the insurer's or insurance group's corporate governance structure, policies, and practices. The commissioner may request additional information deemed material and necessary to provide the commissioner with a clear understanding of the corporate governance policies, the reporting or information system, or the controls implementing those policies.  (b) Notwithstanding subsection (a), the corporate governance annual disclosure shall be prepared consistent with rules adopted by the commissioner. Documentation and supporting information shall be maintained and made available upon examination or request of the commissioner. [L 2019, c 71, pt of §1]
HI Rev Stat § 431:3G-108 (2021)
2021 Hawaii Revised Statutes|Title 24. Insurance|431. Insurance Code|431:3G-108 Sanctions.

 §431:3G-108 Sanctions. Any insurer failing, without just cause, to timely file the corporate governance annual disclosure as required in this article shall be required, after notice and an opportunity for hearing, to pay a penalty of not less than $100 and not more than $500 for each day's delay, to be recovered by the commissioner and paid into the compliance resolution fund. The maximum penalty under this section shall be $50,000. The commissioner may reduce the penalty if the insurer demonstrates to the commissioner that the imposition of the penalty would constitute a financial hardship to the insurer. [L 2019, c 71, pt of §1]
HI Rev Stat § 431:3G-109 (2021)
2021 Hawaii Revised Statutes|Title 24. Insurance|431. Insurance Code|431:3G-109 Severability.

 §431:3G-109 Severability. If any provision of this article other than section 431:3G-106, or the application thereof to any person or circumstance, is held invalid, the determination of invalidity shall not affect those provisions or applications of this article that can be given effect without the invalid provision or application; to that end, the provisions of this article, except for section 431:3G-106, are severable. [L 2019, c 71, pt of §1]
HI Rev Stat § 431:4-101 (2021)
2021 Hawaii Revised Statutes|Title 24. Insurance|431. Insurance Code|431:4-101 Definitions.

  §431:4-101 Definitions. As used in this article:  "Available surplus" means the excess over the minimum amount of surplus required for the classes of insurance the insurer is authorized to transact.  "Equity security" means any stock or similar security; any security convertible, with or without consideration, into such a security, or carrying any warrant or right to subscribe to or purchase such a security; any such warrant or right; or any security that the commissioner, by rules and regulations as the commissioner may prescribe in the public interest or for the protection of investors, designates as an equity security.  "Surplus funds" means the excess of the insurer's assets over its liabilities, including its capital stock as a liability. [L 1987, c 347, pt of §2; am L 2019, c 111, §15]
HI Rev Stat § 431:4-102 (2021)
2021 Hawaii Revised Statutes|Title 24. Insurance|431. Insurance Code|431:4-102 Types of insurers permitted.

  §431:4-102 Types of insurers permitted. An insurer formed in this State shall be either:  (1) An incorporated stock insurer,  (2) An incorporated mutual insurer which charges for and collects in advance cash premiums in an amount adequate to maintain full legal reserves and to fully meet and discharge all of its obligations and liabilities under its policies without assessments or calls upon its members for additional premium, except as provided in this article relative to the contingent liability of its members, or  (3) A reciprocal insurer, with respective powers, duties and restrictions as provided in this article. [L 1987, c 347, pt of §2]
HI Rev Stat § 431:4-103 (2021)
2021 Hawaii Revised Statutes|Title 24. Insurance|431. Insurance Code|431:4-103 Corporation law applies in general.

  §431:4-103 Corporation law applies in general. The laws of this State relating to private corporations, except where inconsistent with the express provisions of this code, shall apply to incorporated domestic insurers. [L 1987, c 347, pt of §2]
HI Rev Stat § 431:4-104 (2021)
2021 Hawaii Revised Statutes|Title 24. Insurance|431. Insurance Code|431:4-104 Articles of incorporation.

  §431:4-104 Articles of incorporation. (a) This section applies to insurers incorporated in this State.  (b) The incorporators shall be individuals who are United States citizens, and a majority of them shall be residents of this State. The number of incorporators shall be:  (1) Not less than five if a stock insurer, or  (2) Not less than ten if a mutual insurer.  (c) After the articles of incorporation have been approved by the department of commerce and consumer affairs and by the commissioner, the original shall be filed with the department, one copy with the commissioner, and one copy retained by the insurer.  (d) The articles of incorporation shall state in addition to the requirements set forth in section 414-32:  (1) The name of the insurer, which shall include the word "Insurance" and, as the last word thereof, one of the words "Corporation", "Incorporated", or "Limited", or one of the abbreviations "Corp.", "Inc.", or "Ltd.". In the case of the reciprocal insurer, the name shall include the word "Reciprocal", "Interinsurer", "Interinsurance", "Exchange", "Underwriters", or "Underwriting";  (2) (A) Whether it is a stock or mutual insurer; and  (B) The classes of insurance it will issue, according to the designations made in this article.  (3) The place of its principal office, which shall be established and maintained in this State.  (4) (A) If a stock insurer, the amount of its capital, the aggregate number of shares, and the par value of each share, which par value shall not be less than $2, and if the privilege of subsequent extension of the authorized capital stock is sought, then the limit of such extension shall be stated;  (B) If a mutual insurer, the maximum contingent liability of its policyholders for the payment of its expenses and losses occurring under its policies.  (5) The names and addresses, both business and residence, of the officers of the insurer for the initial term.  (6) Other provisions, not inconsistent with law, as may be deemed proper by the incorporators. [L 1987, c 347, pt of §2; am L 2002, c 40, §68]
HI Rev Stat § 431:4-105 (2021)
2021 Hawaii Revised Statutes|Title 24. Insurance|431. Insurance Code|431:4-105 Affidavit.

  §431:4-105 Affidavit. (a) Before applying to the commissioner for an initial certificate of authority, a stock or mutual insurer is required to file with the commissioner an affidavit, sworn to by the president, secretary, and treasurer of the corporation as named in the articles of incorporation.  (b) The affidavit shall set forth:  (1) The number of shares which the corporation is authorized to issue;  (2) The par value of the shares;  (3) The names of the shareholders;  (4) The number of shares owned by each shareholder;  (5) The amount of money paid to the corporation by each shareholder; and  (6) That the required capital has been paid in full in cash. [L 1987, c 347, pt of §2; am L 2003, c 212, §33]
HI Rev Stat § 431:4-106 (2021)
2021 Hawaii Revised Statutes|Title 24. Insurance|431. Insurance Code|431:4-106 Board of directors.

  §431:4-106 Board of directors. The board of directors of a domestic insurer shall consist of not less than five individuals, at least three-fourths of the individuals shall be United States citizens, and a majority of the individuals shall be residents of this State. [L 1987, c 347, pt of §2]
HI Rev Stat § 431:4-106.5 (2021)
2021 Hawaii Revised Statutes|Title 24. Insurance|431. Insurance Code|431:4-106.5 Membership in mutual or subscriber in reciprocal insurers; no personal liability of representative.

  §431:4-106.5 Membership in mutual or subscriber in reciprocal insurers; no personal liability of representative. Any person may make application to enter into agreement for and hold policies or contracts in or with and be a member or subscriber of any domestic, foreign, or alien mutual or reciprocal insurer. Any officer, representative, or trustee, receiver, or legal representative of any such member or policyholder shall be recognized as acting for or on its behalf for the purpose of such contracts or membership, but shall not be personally liable upon the contract by reason of acting in such representative capacity. [L 1989, c 195, §1]
HI Rev Stat § 431:4-107 (2021)
2021 Hawaii Revised Statutes|Title 24. Insurance|431. Insurance Code|431:4-107 Solicitation permit required.

  §431:4-107 Solicitation permit required. (a) No person forming or proposing to form in this State any of the following shall advertise, solicit or receive any funds, agreement, stock subscription or membership on account thereof, unless the person has applied for and has received from the commissioner a solicitation permit:  (1) An insurer,  (2) An insurance holding corporation,  (3) A stock corporation to finance an insurer or insurance production, or  (4) A corporation to manage an insurer.  (b) Any person violating this section shall be fined not more than $10,000 or imprisoned not more than ten years, or both. [L 1987, c 347, pt of §2]
HI Rev Stat § 431:4-108 (2021)
2021 Hawaii Revised Statutes|Title 24. Insurance|431. Insurance Code|431:4-108 Application for a solicitation permit.

  §431:4-108 Application for a solicitation permit. To apply for a solicitation permit a person shall:  (1) File with the commissioner a request showing:  (A) Name, type and purpose of insurer or corporation proposed to be formed;  (B) Names, addresses and business records of each person associated or to be associated with in the formation of the proposed insurer or corporation;  (C) Full disclosure of the terms of all understandings and agreements existing or proposed among persons so associated relative to the proposed insurer or corporation or the formation thereof;  (D) The plan according to which solicitations are to be made;  (E) Such additional information as the commissioner may reasonably require.  (2) File with the commissioner:  (A) (i) The articles of incorporation, or  (ii) The proposed subscribers' agreement and power of attorney, if the proposed insurer is a reciprocal;  (B) Original and one copy of any proposed bylaws;  (C) Copy of any security proposed to be issued and copy of application or subscription agreement therefor;  (D) Copy of any insurance contract proposed to be offered and copy of application therefor;  (E) Copy of any prospectus, advertising or literature proposed to be used;  (F) Copy of proposed form of any escrow agreement required.  (3) Deposit with the commissioner the appropriate fees required by this code. [L 1987, c 347, pt of §2]
HI Rev Stat § 431:4-109 (2021)
2021 Hawaii Revised Statutes|Title 24. Insurance|431. Insurance Code|431:4-109 Permit issued or denied.

  §431:4-109 Permit issued or denied. (a) The commissioner shall expeditiously examine the application for a solicitation permit and make any investigation relative thereto deemed necessary.  (b) The commissioner shall give notice to the applicant that the commissioner will issue a solicitation permit, stating the terms to be contained therein, if the commissioner finds:  (1) The application is complete;  (2) The documents therewith filed are equitable in terms and proper in form;  (3) The agreements made or proposed are equitable to present and future shareholders, subscribers, members, or policyholders; and  (4) None of the persons named in the application as being associated or to be associated with the formation of the insurer or corporation is untrustworthy.  (c) After such notice, the commissioner shall issue to the applicant a solicitation permit upon the applicant's filing of the following:  (1) The bond required by section 431:4-110; and  (2) The articles of incorporation of the incorporated insurer or other corporation with the department of commerce and consumer affairs and upon presentation of evidence of such filing to the commissioner.  (d) If the commissioner denies the application for a solicitation permit, the commissioner shall give notice to the applicant that the permit will not be granted, state the grounds therefor, and refund to the applicant all sums so deposited except the application fee. [L 1987, c 347, pt of §2]
HI Rev Stat § 431:4-110 (2021)
2021 Hawaii Revised Statutes|Title 24. Insurance|431. Insurance Code|431:4-110 Bond or cash deposit.

  §431:4-110 Bond or cash deposit. (a) The commissioner shall not issue a solicitation permit until the person applying therefor files with the commissioner a corporate surety bond in the penalty sum of $150,000, in favor of this State and for the use and benefit of this State and of subscribers and creditors of the proposed organization. The bond shall be conditioned upon the payment of costs incurred by this State in the event of any legal proceedings for liquidation or dissolution of the proposed organization before completion of organization or in the event a certificate of authority is not granted; upon a full accounting for funds received until the proposed insurer has been granted its certificate of authority; or until the proposed corporation has completed its organization as defined in the solicitation permit.  (b) In lieu of filing the bond described in subsection (a), the person may deposit with the director of finance through the commissioner $150,000 in cash or in United States government bonds at par value, to be held in trust upon the same conditions as required for the bond.  (c) The commissioner may waive the requirement for a bond or deposit in lieu thereof if the permit provides that:  (1) The proposed securities are to be distributed solely and finally to those few persons who are the active promoters intimate to the formation of the insurer or other corporation, or to the formation of the insurer or other corporation; or  (2) The securities are to be issued in connection with subsequent financing as provided in section 431:4-120, and distribution thereof is not to be made to the general public.  (d) Any bond filed, or any deposit or remaining portion thereof held under this section shall be released and discharged upon settlement or termination of all liabilities against it. [L 1987, c 347, pt of §2; am L 1993, c 205, §8]
HI Rev Stat § 431:4-111 (2021)
2021 Hawaii Revised Statutes|Title 24. Insurance|431. Insurance Code|431:4-111 Expiration and contents.

  §431:4-111 Expiration and contents. Every solicitation permit issued by the commissioner shall:  (1) Expire two years from its date, unless earlier terminated by the commissioner, and shall so state.  (2) State the securities for which subscriptions are to be solicited, the number, classes, par value, and selling price thereof, or identify the insurance contract for which applications and advance premiums or deposits are to be solicited.  (3) Limit the portion of funds received on account of stock subscriptions, if any are proposed to be taken, which may be used for promotion and organization expenses to such amount as the commissioner deems adequate, but in no event to exceed fifteen per cent of such funds as and when actually received.  (4) If to be for a mutual or reciprocal insurer, limit the portion of funds received on account of applications for insurance which may be used for promotion or organization expenses to a reasonable commission upon such funds, giving consideration to the class or classes of insurance and policy or policies involved and to the costs incurred by insurers generally in the production of similar business, and provide that no such commission shall be deemed to be earned nor be paid until the insurer has received its certificate of authority and the policies applied for, and upon which such commission is to be based, have been actually issued and delivered.  (5) Contain such other information required by this part or reasonable conditions relative to accounting and reports or otherwise as the commissioner deems necessary. [L 1987, c 347, pt of §2]
HI Rev Stat § 431:4-112 (2021)
2021 Hawaii Revised Statutes|Title 24. Insurance|431. Insurance Code|431:4-112 Permit not an inducement.

  §431:4-112 Permit not an inducement. The granting of a solicitation permit is permissive only and shall not constitute an endorsement by the commissioner of any person or thing related to the proposed insurer or corporation. The existence of the permit shall not be advertised or used as an inducement in any solicitation. The substance of this section in boldfaced type not less than ten point shall be printed at the top of each solicitation permit. [L 1987, c 347, pt of §2]