reglab/housing_qa huggingface dataset:
HI Rev Stat § 431:19-211 (2021)
2021 Hawaii Revised Statutes|Title 24. Insurance|431. Insurance Code|431:19-211 Annual reporting; books and records.

  §431:19-211 Annual reporting; books and records. (a) For purposes of section 431:19-107(a), the commissioner may require any appropriate or necessary modification or supplemental or additional information to be filed with the required financial statements.  (b) Unless otherwise approved in advance by the commissioner, a special purpose financial captive insurance company shall maintain its books, records, documents, accounts, vouchers, and agreements in this State. A special purpose financial captive insurance company shall make its books, records, documents, accounts, vouchers, and agreements available for inspection by the commissioner at any time. A special purpose financial captive insurance company shall keep its books and records in a manner that its financial condition, affairs, and operations can be readily ascertained and so that the commissioner may readily verify its financial statements and determine its compliance with this part.  (c) Unless otherwise approved in advance by the commissioner, all original books, records, documents, accounts, vouchers, and agreements shall be preserved and kept available in this State for the purpose of examination and inspection and until a time as the commissioner approves the destruction or other disposition of the books, records, documents, accounts, vouchers, and agreements. If the commissioner approves the keeping of the items listed in this subsection outside this State, then the special purpose financial captive insurance company shall maintain in this State a complete and true copy of each original. Books, records, documents, accounts, vouchers, and agreements may be photographed, reproduced on film, or stored and reproduced electronically. [L 2008, c 190, pt of §1]
HI Rev Stat § 431:19-212 (2021)
2021 Hawaii Revised Statutes|Title 24. Insurance|431. Insurance Code|431:19-212 Suspension and revocation of certificate of authority.

  §431:19-212 Suspension and revocation of certificate of authority. (a) The commissioner shall notify a special purpose financial captive insurance company not less than thirty days before suspending or revoking its certificate of authority pursuant to section 431:19-109, which notice shall state the basis for the suspension or revocation. The special purpose financial captive insurance company shall be afforded the opportunity for a hearing pursuant to chapter 91.  (b) Notwithstanding subsection (a) and section 91-9.5, the commissioner may cause the immediate suspension or restriction of the special purpose financial captive insurance company's certificate of authority, subject to timely subsequent notice and opportunity for a hearing, upon the commissioner's determination that the failure to take an action may result in the material deterioration of the financial condition or soundness of the special purpose financial captive insurance company, and that for the protection of the public from the possible consequences of practices, the special purpose financial captive insurance company's certificate of authority should be immediately suspended or restricted.  The commissioner may order the summary suspension of the certificate of authority for a period not to exceed the later of thirty days or, if a hearing is requested by the special purpose financial captive insurance company pursuant to chapter 91, the conclusion of the hearing. Any attempt by the special purpose financial captive insurance company to continue its operations while its certificate of authority has been summarily suspended shall be sufficient to warrant a permanent revocation of the certificate of authority and shall subject the special purpose financial captive insurance company to all penalties prescribed by this article, or any rule or order issued by the commissioner.  (c) For purposes of this section, any reference to section 431:19-104 in section 431:19-109(a)(2) shall be construed to also reference section 431:19-207. [L 2008, c 190, pt of §1]
HI Rev Stat § 431:19-214 (2021)
2021 Hawaii Revised Statutes|Title 24. Insurance|431. Insurance Code|431:19-214 Existing licenses.

  §431:19-214 Existing licenses. Except as otherwise determined by the commissioner, a captive insurance company, that has been issued a certificate of authority by the commissioner pursuant to section 431:19-102 as of July 1, 2008, and is engaged in or will be engaged in an insurance securitization, need not obtain a certificate of authority pursuant to section 431:19-204, but shall otherwise be subject to this part as a special purpose financial captive insurance company; provided that the commissioner may require the captive insurance company to take any action that the commissioner determines is reasonably necessary to bring the captive insurance company into compliance with this part; provided further that the commissioner may issue an order described in section 431:19-204(b) with respect to the captive insurance company. [L 2008, c 190, pt of §1]
HI Rev Stat § 431:19-301 (2021)
2021 Hawaii Revised Statutes|Title 24. Insurance|431. Insurance Code|431:19-301 Formation.

  §431:19-301 Formation. (a) One or more sponsors may form a sponsored captive insurance company under this part. In addition to the general provisions of this article, the provisions of this part shall apply to sponsored captive insurance companies.  (b) A sponsored captive insurance company shall be incorporated as a stock insurer with its capital divided into shares and held by the stockholders, as a nonprofit corporation with one or more members, or as a member-managed or manager-managed limited liability company. [L 2008, c 190, pt of §1]
HI Rev Stat § 431:19-302 (2021)
2021 Hawaii Revised Statutes|Title 24. Insurance|431. Insurance Code|431:19-302 Supplemental application materials.

  §431:19-302 Supplemental application materials. In addition to the information required in section 431:19-102(c) and (d), each sponsored captive insurance company applicant that segregates the risks of its participants through one or more protected cells shall file with the commissioner the following:  (1) All contracts or draft contracts between the sponsored captive insurance company and its participants;  (2) A description of the means by which the assets, liabilities, income, and expenses of each protected cell shall be segregated from those of other protected cells in the sponsored captive insurance company, and reported to the commissioner; and  (3) A fair and equitable plan for allocating direct and indirect expenses to each protected cell. [L 2008, c 190, pt of §1]
HI Rev Stat § 431:19-303 (2021)
2021 Hawaii Revised Statutes|Title 24. Insurance|431. Insurance Code|431:19-303 Protected cells.

  §431:19-303 Protected cells. A sponsored captive insurance company formed and licensed under this article may establish and maintain one or more protected cells to insure risks of one or more participants, subject to the following:  (1) The shareholders or members of a sponsored captive insurance company shall be limited to its participants and sponsors; provided that a sponsored captive insurance company may issue nonvoting securities to other persons on terms approved by the commissioner;  (2) A protected cell shall be organized and operated in only those forms of business organization authorized by the commissioner, including an association, corporation, limited liability company, partnership, or trust;  (3) Each protected cell shall be accounted for separately on the books and records of the sponsored captive insurance company to reflect the financial condition and results of operations of the protected cell, net income or loss, dividends or other distributions to participants, and other factors as may be provided in the participant contract or required by the commissioner;  (4) The assets of a protected cell shall not be chargeable with liabilities arising out of any other insurance business the sponsored captive insurance company may conduct;  (5) No sale, exchange, or other transfer of assets may be made by a sponsored captive insurance company between or among any of its protected cells without the consent of the protected cells;  (6) No sale, exchange, transfer of assets, dividend, or distribution may be made from a protected cell to a sponsor or participant without the commissioner's approval, and in no event shall the approval be given if the sale, exchange, transfer, dividend, or distribution would result in insolvency or impairment with respect to a protected cell;  (7) Each sponsored captive insurance company shall annually file with the commissioner, financial reports as the commissioner shall require, that shall include, without limitation, accounting statements detailing the financial experience of each protected cell;  (8) Each sponsored captive insurance company shall notify the commissioner in writing within ten business days of any protected cell that is insolvent or otherwise unable to meet its claim or expense obligations; and  (9) No participant contract shall take effect without the commissioner's prior written approval, and the addition of each new protected cell and withdrawal of any participant or termination of any existing protected cell shall constitute a change in business plan requiring the commissioner's prior written approval. [L 2008, c 190, pt of §1; am L 2010, c 7, §3]
HI Rev Stat § 431:19-304 (2021)
2021 Hawaii Revised Statutes|Title 24. Insurance|431. Insurance Code|431:19-304 Qualification of sponsors.

  §431:19-304 Qualification of sponsors. A sponsor of a sponsored captive insurance company shall be an insurer licensed under laws of any state, a reinsurer authorized or approved under the laws of any state, a captive insurance company formed or licensed under this article, or any other person, company, or organization approved by the commissioner in the exercise of the commissioner's discretion, after finding that the approval of that person, company, or organization as a sponsor is not inconsistent with the purposes of this article. A risk retention group shall not be a sponsor of a sponsored captive insurance company. [L 2008, c 190, pt of §1; am L 2016, c 141, §10]
HI Rev Stat § 431:19-305 (2021)
2021 Hawaii Revised Statutes|Title 24. Insurance|431. Insurance Code|431:19-305 Participants in sponsored captive insurance companies.

  §431:19-305 Participants in sponsored captive insurance companies. (a) Associations, corporations, limited liability companies, partnerships, trusts, risk retention groups, and other business entities may be participants in any sponsored captive insurance company formed or licensed under this chapter.  (b) A sponsor of a sponsored captive insurance company may be a participant.  (c) A participant need not be a shareholder or member of the sponsored captive insurance company or any affiliate thereof.  (d) A participant shall insure only its own risks through a sponsored captive insurance company. [L 2008, c 190, pt of §1; am L 2016, c 141, §11]
HI Rev Stat § 431:19-306 (2021)
2021 Hawaii Revised Statutes|Title 24. Insurance|431. Insurance Code|431:19-306 Investments by sponsored captive insurance companies.

  §431:19-306 Investments by sponsored captive insurance companies. Notwithstanding section 431:19-303, the assets of two or more protected cells may be combined for purposes of investments, and the combination shall not be construed as defeating the segregation of the assets for accounting or other purposes. Sponsored captive insurance companies shall comply with the investment requirements under section 431:19-110. [L 2008, c 190, pt of §1]
HI Rev Stat § 431:19-307 (2021)
2021 Hawaii Revised Statutes|Title 24. Insurance|431. Insurance Code|431:19-307 Delinquency of sponsored captive insurance companies.

  §431:19-307 Delinquency of sponsored captive insurance companies. In the case of a sponsored captive insurance company, article 15 shall apply; provided that:  (1) The assets of a protected cell may not be used to pay any expenses or claims other than those attributable to the protected cells; and  (2) Its capital and surplus shall at all times be available to pay any expenses of or claims against the sponsored captive insurance company. [L 2008, c 190, pt of §1]
HI Rev Stat § 431:19-308 (2021)
2021 Hawaii Revised Statutes|Title 24. Insurance|431. Insurance Code|431:19-308 Applicable laws.

  §431:19-308 Applicable laws. A sponsored captive insurance company shall be subject to this part and to part I. If there is any conflict between this part and part I, this part shall control. [L 2008, c 190, pt of §1; am L 2012, c 253, §21]
HI Rev Stat § 431:19-309 (2021)
2021 Hawaii Revised Statutes|Title 24. Insurance|431. Insurance Code|431:19-309 Existing licenses.

  §431:19-309 Existing licenses. Except as otherwise determined by the commissioner, a captive insurance company that has been issued a certificate of authority by the commissioner pursuant to section 431:19-102 as of July 1, 2008, and is licensed as a class 4 company shall not be required to re-apply for a certificate of authority under this part, but shall otherwise be subject to this part as a sponsored captive insurance company; provided that the commissioner may by order require the captive insurance company to take any action that the commissioner determines is reasonably necessary to bring the captive insurance company into compliance with this part. [L 2008, c 190, pt of §1; am L 2012, c 253, §22]
HI Rev Stat § 431:20-101 (2021)
2021 Hawaii Revised Statutes|Title 24. Insurance|431. Insurance Code|431:20-101 Scope.

Case Notes Mentioned: 74 H. 85, 839 P.2d 10 (1992).  §431:20-101 Scope. This article relates only to title insurers and title insurance policies. [L 1987, c 347, pt of §2]
HI Rev Stat § 431:20-102 (2021)
2021 Hawaii Revised Statutes|Title 24. Insurance|431. Insurance Code|431:20-102 Definitions.

  §431:20-102 Definitions. For the purposes of this article:  "Controlled escrow company" means each person engaged in the business of handling escrows of real property transactions in connection with which title policies are issued by a title insurer, which person:  (1) If an artificial person, directly or indirectly, is controlled by or controls, or is under common control with, a title insurer or is controlled by or controls, or is under common control with, an underwritten title company; or  (2) If a natural person, is employed by or controlled by a title insurer or by an underwritten title company.  "Title insurance business" or "business of title insurance" means:  (1) Issuing as insurer or offering to issue as insurer a title insurance policy; or  (2) Transacting or proposing to transact by a title insurer any of the following activities when conducted or performed in contemplation of the issuance of a title insurance policy:  (A) Soliciting or negotiating the issuance of a title insurance policy;  (B) Guaranteeing, warranting, or otherwise insuring the correctness of title searches;  (C) Handling of escrows, settlements, or closings;  (D) Execution of title insurance policies;  (E) Effecting contracts of reinsurance;  (F) Abstracting, searching, or examining titles; or  (G) Doing or proposing to do any business in substance equivalent to any of the foregoing in a manner designed to evade the provisions of this article.  "Title insurance policy" or "policy" means a contract issuing or indemnifying against loss or damage arising from any or all of the following existing on or before the policy date:  (1) Defects in, liens against, or encumbrances on the insured title;  (2) Unmarketability of the insured title; or  (3) Invalidity or unenforceability of liens or encumbrances on the stated property. Title insurance policy does not include a preliminary report, binder, commitment, or abstract.  "Title insurer" or "insurer" means a company organized under laws of this State for the purpose of transacting as insurer the business of title insurance, and any foreign or alien title insurer engaged in this State in the business of title insurance as insurer.  "Underwritten title company" means each person engaged in the business of preparing lien or title searches, title examinations, certificates of searches of title, or abstracts of title upon the basis of which a title insurer regularly writes title policies. [L 1987, c 347, pt of §2; am L 2019, c 111, §24]
HI Rev Stat § 431:20-103 (2021)
2021 Hawaii Revised Statutes|Title 24. Insurance|431. Insurance Code|431:20-103 General insurance law applicable

  §431:20-103 General insurance law applicable. The following provisions shall apply to title insurance and to title insurers:  (1) Sections 431:1-103 and 431:1-105;  (2) Sections 431:1-212, 431:1-213, and 431:1-214;  (3) Sections 431:2-101 to 431:2-106, and sections 431:2-108 to 431:2-110;  (4) Sections 431:2-201 to 431:2-204, sections 431:2-207 to 431:2-212, and section 431:2-215;  (5) Sections 431:2-302, 431:2-303, 431:2-305, and 431:2-306;  (6) Sections 431:3-101 to 431:3-105;  (7) Sections 431:3-201 to 431:3-203, 431:3-205, and 431:3-206, and sections 431:3-209 to 431:3-220;  (8) Sections 431:3-301, 431:3-305, 431:3-307, and 431:3-308;  (9) Sections 431:4-102 to 431:4-127;  (10) Sections 431:4-202 to 431:4-207;  (11) Section 431:5-101;  (12) Sections 431:5-201 to 431:5-203;  (13) Sections 431:5-305 and 431:5-306, and sections 431:5-308 to 431:5-311;  (14) Article 6;  (15) Article 7;  (16) Article 9A;  (17) Sections 431:10-211, 431:10-216 to 431:10-218, and 431:10-220, 431:10-221, and 431:10-224, 431:10-225, and sections 431:10-235 to 431:10-238;  (18) Article 13; and  (19) Article 15. [L 1987, c 347, pt of §2; am L 1988, c 363, §2(4); am L 2002, c 155, §96; am L 2003, c 212, §117; am L 2006, c 154, §41]
HI Rev Stat § 431:20-104 (2021)
2021 Hawaii Revised Statutes|Title 24. Insurance|431. Insurance Code|431:20-104 Particular provisions prevail.

  §431:20-104 Particular provisions prevail. If any provision of this code as incorporated in this article by section 431:20-103 is in conflict with any provision of this article, the provision contained in this article shall prevail. [L 1987, c 347, pt of §2]
HI Rev Stat § 431:20-105 (2021)
2021 Hawaii Revised Statutes|Title 24. Insurance|431. Insurance Code|431:20-105 Authorized business.

  §431:20-105 Authorized business. (a) Each title insurer may engage in the title insurance business in this State if licensed to do so by the commissioner.  (b) Each domestic title insurer may issue policies and may also insure:  (1) The identity, due execution, and validity of any note or bond secured by mortgage;  (2) The identity, due execution, validity, recording of any such mortgage; and  (3) The identity, due execution, and validity of evidences of indebtedness issued by this State, by any political subdivision or district therein, or by any private or public corporation. [L 1987, c 347, pt of §2]
HI Rev Stat § 431:20-106 (2021)
2021 Hawaii Revised Statutes|Title 24. Insurance|431. Insurance Code|431:20-106 Restrictions on business.

  §431:20-106 Restrictions on business. Any insurer which anywhere in the United States transacts any class of insurance other than title insurance is not eligible for the issuance of a certificate of authority to transact title insurance in this State nor for the renewal thereof, nor shall title insurance be transacted, underwritten or issued by any insurer transacting or licensed to transact any other kind of insurance. [L 1987, c 347, pt of §2]
HI Rev Stat § 431:20-106.5 (2021)
2021 Hawaii Revised Statutes|Title 24. Insurance|431. Insurance Code|431:20-106.5 Escrow depositories.

  §431:20-106.5 Escrow depositories. Any title insurer or insurer which operates as an escrow depository as defined in chapter 449 shall be licensed in accordance with chapter 449. [L 1996, c 27, §1]
HI Rev Stat § 431:20-107 (2021)
2021 Hawaii Revised Statutes|Title 24. Insurance|431. Insurance Code|431:20-107 Capital requirements.

  §431:20-107 Capital requirements. A title insurer shall have a minimum capital, which shall be paid in and maintained, of not less than $400,000. [L 1987, c 347, pt of §2 as superseded by c 348, §21]
HI Rev Stat § 431:20-108 (2021)
2021 Hawaii Revised Statutes|Title 24. Insurance|431. Insurance Code|431:20-108 Guarantee fund.

  §431:20-108 Guarantee fund. (a) A title insurer, before issuing any title insurance policy covering property located in this State, shall deposit $400,000 with the commissioner, which deposit shall be known as a guarantee fund and shall be held for the security and protection of the holders or beneficiaries under its title insurance policies.  (b) The deposit required under subsection (a) may be made in lawful money of the United States or in the securities authorized for investment by domestic incorporated insurers under article 6 of this code.  (c) Assets deposited pursuant to subsection (a), with the commissioner's approval, may be exchanged from time to time for other assets that qualify under subsection (b).  (d) The depositing title insurer shall receive the income, interests, and dividends on any assets deposited.  (e) A title insurer that has deposited assets pursuant to this section, with the approval of the commissioner, may withdraw any part of the assets so deposited. If a title insurer continues to engage in the business of title insurance, it shall not be permitted to withdraw assets that would reduce the amount of its deposits below the amount required by subsection (a).  (f) In the event of the insolvency or dissolution of a title insurer, the deposit made pursuant to this section shall be retained by the commissioner until the time all outstanding liabilities created by the title insurance policies issued or reinsurance assumed by the title insurer have been discharged by reinsurance or otherwise. As much of the deposit as shall be necessary may be used by or with the written approval of the commissioner in the payment of claims arising under the title insurance policies or reinsurance assumed or to purchase reinsurance thereon. Any amounts then remaining shall be applied first to the payment of other obligations of the title insurer, and second, shall be distributed to the stockholders of the title insurer.  (g) In lieu of a deposit maintained in this State, the commissioner shall accept the certificate in proper form of the public officer having general supervision of insurers in any other state to the effect that a deposit, in a like amount, by the insurer is being maintained for like purposes in public custody or control pursuant to the laws of that state. [L 1987, c 347, pt of §2 as superseded by c 348, §22]
HI Rev Stat § 431:20-109 (2021)
2021 Hawaii Revised Statutes|Title 24. Insurance|431. Insurance Code|431:20-109 Limitations on compliance with section 431:20-107 and section 431:20-108.

  §431:20-109 Limitations on compliance with section 431:20-107 and section 431:20-108. If section 431:20-107 or section 431:20-108 requires a greater amount of capital and surplus or deposits than that required of a title insurer prior to July 1, 1988, such title insurer shall have three years after July 1, 1988, to comply with any such increase requirement. [L 1987, c 347, pt of §2] Revision Note  "July 1, 1988" substituted for "the effective date of this code" pursuant to §23G-15.