reglab/housing_qa huggingface dataset:
HI Rev Stat § 431:4-247 (2021)
2021 Hawaii Revised Statutes|Title 24. Insurance|431. Insurance Code|431:4-247 Application of this part to annual report.

  §431:4-247 Application of this part to annual report. Notwithstanding section 431:4-238(b) and (c), two copies of any portion of the annual report referred to in section 431:4-238(b), which comments upon or refers to any solicitation subject to this part or to any participant in any solicitation, other than the solicitation by the management, shall be filed with the commissioner as proxy material subject to this part. The portion of the annual report shall be filed with the commissioner in preliminary form at least five business days prior to the date copies of the annual report are first sent or given to stockholders. [L 2000, c 24, pt of §2; am L 2004, c 122, §16]
HI Rev Stat § 431:4-301 (2021)
2021 Hawaii Revised Statutes|Title 24. Insurance|431. Insurance Code|431:4-301 Other articles applicable.

  §431:4-301 Other articles applicable. The provisions applicable to domestic stock insurers shall apply except where inconsistent with the express provisions of this part. [L 1987, c 347, pt of §2]
HI Rev Stat § 431:4-302 (2021)
2021 Hawaii Revised Statutes|Title 24. Insurance|431. Insurance Code|431:4-302 Initial qualifications for mutual insurers.

  §431:4-302 Initial qualifications for mutual insurers. (a) The commissioner shall not issue a certificate of authority to a domestic mutual insurer unless:  (1) It has fully qualified under this code; and  (2) It has met the minimum requirements for the classes of insurance it proposes to transact as provided in this code.  (b) All applications for insurance submitted by such an insurer as fulfilling qualification requirements shall be bona fide applications from persons resident in this State covering life, property, or risks resident or located in this State.  (c) All qualifying premiums collected and initial surplus funds of such an insurer shall be in cash. [L 1987, c 347, pt of §2]
HI Rev Stat § 431:4-303 (2021)
2021 Hawaii Revised Statutes|Title 24. Insurance|431. Insurance Code|431:4-303 Mutual property insurer.

  §431:4-303 Mutual property insurer. (a) When applying for a certificate of authority a domestic mutual property insurer must:  (1) Have applications from at least one hundred persons for insurance covering at least two hundred and fifty nonadjacent properties, for insurance aggregating not less than $500,000; and  (2) Have collected from each applicant the proper premium at a rate not less than a rate adopted by a licensed rating organization for a term of at least one year; and  (3) Have a surplus over all liabilities, as at completion of issuance of the insurance contracts so applied for, amounting to not less than $750,000.  (b) The maximum of any single risk proposed to be assumed by the insurer shall not exceed ten per cent of its surplus. Any reinsurance taking effect simultaneously with the policy shall be deducted in determining the amount at risk for purposes of this provision.  (c) In lieu of the applications, premiums, and surplus, it is required to have a surplus amounting to not less than $1,250,000 over all liabilities. [L 1987, c 347, pt of §2 as superseded by c 348, §5]
HI Rev Stat § 431:4-304 (2021)
2021 Hawaii Revised Statutes|Title 24. Insurance|431. Insurance Code|431:4-304 Mutual casualty insurer.

  §431:4-304 Mutual casualty insurer. (a) When applying for a certificate of authority a domestic mutual insurer proposing to transact casualty insurance, including vehicle insurance, must:  (1) Have applications for the insurance in a reasonable amount from at least two hundred and fifty persons covering not less than five hundred separate risks; and  (2) Have collected from each applicant the proper premium for a term of not less than one year at a rate filed with and approved by the commissioner; and  (3) Have a surplus over all liabilities, as at completion of issuance of the insurance contracts so applied for, amounting to not less than $1,500,000.  (b) In lieu of the applications, premiums, and surplus, it is required to have a surplus amounting to not less than $2,250,000 over all liabilities. [L 1987, c 347, pt of §2 as superseded by c 348, §6]
HI Rev Stat § 431:4-305 (2021)
2021 Hawaii Revised Statutes|Title 24. Insurance|431. Insurance Code|431:4-305 Mutual vehicle insurer.

  §431:4-305 Mutual vehicle insurer. (a) When applying for a certificate of authority, a domestic mutual insurer formed to transact vehicle insurance must:  (1) Have applications from at least two hundred persons for insurance covering at least five hundred separate vehicles, for a maximum of retained liability not in excess of $50,000 for any one accident or other liability; and  (2) Have collected from each applicant the proper premium for insurance for one year according to its schedule of premium rates approved by the commissioner; and  (3) Have a surplus over all liabilities, as at completion of issuance of the insurance contracts so applied for, amounting to not less than $1,000,000.  (b) In lieu of the applications, premiums, and surplus, it is required to have a surplus amounting to not less than $1,500,000 over all liabilities. [L 1987, c 347, pt of §2 as superseded by c 348, §7]
HI Rev Stat § 431:4-306 (2021)
2021 Hawaii Revised Statutes|Title 24. Insurance|431. Insurance Code|431:4-306 Mutual life insurer.

  §431:4-306 Mutual life insurer. (a) When applying for a certificate of authority, a domestic mutual life insurer must:  (1) Have at least five hundred applications for life insurance, other than on the term plan for terms of ten years or less, covering at least five hundred separate insurable lives on an individual basis for a maximum insurance of not less than $5,000,000; and  (2) Have collected from each applicant the proper annual premium for one year, and have so received from all applicants premiums aggregating at least $125,000; and  (3) Have surplus over all liabilities, as at completion of issuance of the insurance contracts so applied for, amounting to not less than $600,000.  (b) In lieu of the applications, premiums, and surplus, it is required to have a surplus amounting to not less than $900,000 over all liabilities. [L 1987, c 347, pt of §2 as superseded by c 348, §8]
HI Rev Stat § 431:4-307 (2021)
2021 Hawaii Revised Statutes|Title 24. Insurance|431. Insurance Code|431:4-307 Mutual accident and health or sickness insurer.

  §431:4-307 Mutual accident and health or sickness insurer. (a) When applying for a certificate of authority, a domestic mutual accident and health or sickness insurer shall:  (1) Have at least five hundred applications from at least five hundred persons for individual accident and health or sickness insurance providing not more than $1,000 of accidental death benefit and not more than $25 of weekly indemnity for each applicant;  (2) Have collected from each applicant the proper premium for one year, and have so received from all applicants premiums aggregating at least $25,000; and  (3) Have a surplus over all liabilities, as at completion of issuance of the insurance contracts so applied for, amounting to not less than $450,000.  (b) In lieu of the applications, premiums, and surplus, it is required to have a surplus amounting to not less than $675,000 over all liabilities. [L 1987, c 347, pt of §2 as superseded by c 348, §9; am L 2002, c 155, §10]
HI Rev Stat § 431:4-308 (2021)
2021 Hawaii Revised Statutes|Title 24. Insurance|431. Insurance Code|431:4-308 Membership.

  §431:4-308 Membership. Each holder of one or more insurance contracts issued by a domestic mutual insurer, other than a contract of reinsurance, is a member of the insurer, with the rights and obligations of such membership, and each insurance contract issued shall so stipulate. [L 1987, c 347, pt of §2]
HI Rev Stat § 431:4-309 (2021)
2021 Hawaii Revised Statutes|Title 24. Insurance|431. Insurance Code|431:4-309 Rights of members.

  §431:4-309 Rights of members. (a) A domestic mutual insurer is owned by and shall be operated in the interest of its members.  (b) Each member is entitled to one vote in the election of directors and on matters coming before corporate meetings of members, subject to such reasonable minimum requirements as to duration of membership and amount of insurance held as may be made in the insurer's bylaws. The person named as the policyholder in any group insurance policy issued by the insurer shall be deemed the member, and shall have but one vote regardless of the number of individuals insured by the policy.  (c) With respect to the management, records, and affairs of the insurer, a member shall have the same character of rights and relationship as a stockholder has toward a domestic stock insurer. [L 1987, c 347, pt of §2]
HI Rev Stat § 431:4-310 (2021)
2021 Hawaii Revised Statutes|Title 24. Insurance|431. Insurance Code|431:4-310 Bylaws.

  §431:4-310 Bylaws. (a) A domestic mutual insurer shall adopt bylaws for the conduct of its affairs.  (b) The bylaws, or any modification of the bylaws, shall be filed with the commissioner.  (c) The commissioner shall disapprove any such bylaws, or as so modified, and the commissioner shall communicate such disapproval to the insurer, if the commissioner finds after a hearing thereon, that:  (1) It is not in compliance with the laws of this State, or  (2) It unreasonably interferes with the rights of members or exercise of such rights.  (d) No bylaws or modification, so disapproved shall be effective during the existence of such disapproval. [L 1987, c 347, pt of §2]
HI Rev Stat § 431:4-311 (2021)
2021 Hawaii Revised Statutes|Title 24. Insurance|431. Insurance Code|431:4-311 Notice of annual meeting.

  §431:4-311 Notice of annual meeting. (a) Notice of the time and place of the annual meeting of members of a domestic mutual insurer shall be given by imprinting the notice plainly on the policies issued by the insurer.  (b) Any change of the date or place of the annual meeting shall be made only at an annual meeting of members. Notice of the change may be given:  (1) By imprinting the new date or place on all policies which will be in effect as of the date of such changed meeting; or  (2) Unless the commissioner otherwise orders:  (A) Through policies issued after the date of the annual meeting at which such change was made, and  (B) In or attached to premium notices and renewal certificates issued during the twenty-four months immediately following the meeting. [L 1987, c 347, pt of §2]
HI Rev Stat § 431:4-312 (2021)
2021 Hawaii Revised Statutes|Title 24. Insurance|431. Insurance Code|431:4-312 Members proxies.

  §431:4-312 Members proxies. (a) A member of a domestic mutual insurer may vote in person or by proxy given another member on any matter coming before a corporate meeting of members.  (b) No proxy shall be valid beyond the earlier of the following dates:  (1) The date of expiration set forth in the proxy;  (2) The date of termination of membership; or  (3) Five years from the date of execution of the proxy.  (c) No member's vote upon any proposal to divest the insurer of its business and assets, or the major part thereof, shall be registered or taken except in person or by a proxy newly executed and specific as to the matter to be voted upon. [L 1987, c 347, pt of §2]
HI Rev Stat § 431:4-313 (2021)
2021 Hawaii Revised Statutes|Title 24. Insurance|431. Insurance Code|431:4-313 Directors.

  §431:4-313 Directors. (a) No individual shall be a director of a domestic mutual insurer by reason of the individual's holding public office (i.e. ex officio).  (b) An individual is disqualified from being or acting as a director if such person:  (1) Is adjudged as a bankrupt;  (2) Took the benefit of any insolvency law; or  (3) Made a general assignment for the benefit of creditors. [L 1987, c 347, pt of §2]
HI Rev Stat § 431:4-314 (2021)
2021 Hawaii Revised Statutes|Title 24. Insurance|431. Insurance Code|431:4-314 Limitation on expenses incurred in writing property and casualty

  §431:4-314 Limitation on expenses incurred in writing property and casualty. For any calendar year after its first two full calendar years of operation, no domestic mutual insurer, other than one issuing nonassessable policies, shall incur any costs or expense in the writing or administration of property, accident and health or sickness, and casualty insurances, other than boiler and machinery or elevator, transacted by it which, exclusive of losses paid, loss adjustment expenses, investment expenses, dividends, and taxes exceeds the sum of:  (1) Forty per cent of the net premium income during that year after deducting therefrom net earned reinsurance premiums for the year, plus  (2) All of the reinsurance commissions received on reinsurance ceded by it. [L 1987, c 347, pt of §2; am L 2003, c 212, §35]
HI Rev Stat § 431:4-315 (2021)
2021 Hawaii Revised Statutes|Title 24. Insurance|431. Insurance Code|431:4-315 Violation of expense limitation.

  §431:4-315 Violation of expense limitation. (a) The officers and directors of an insurer violating section 431:4-314 shall be jointly and severally liable to the insurer for any excess of expenses incurred.  (b) For failure or refusal of the insurer to exercise reasonable diligence in enforcing such liability, the commissioner may:  (1) Prosecute action thereon for the benefit of the insurer; and  (2) Revoke the insurer's certificate of authority. [L 1987, c 347, pt of §2]
HI Rev Stat § 431:4-316 (2021)
2021 Hawaii Revised Statutes|Title 24. Insurance|431. Insurance Code|431:4-316 Actions on officers' salaries.

  §431:4-316 Actions on officers' salaries. No action to recover, or no action on account of, any salary or other compensation due or claimed to be due any officer or director of a domestic mutual insurer, or on any note or agreement relative thereto, shall be brought against the insurer later than twelve months after the date on which the salary or compensation, or any installment thereof, first accrued. [L 1987, c 347, pt of §2]
HI Rev Stat § 431:4-317 (2021)
2021 Hawaii Revised Statutes|Title 24. Insurance|431. Insurance Code|431:4-317 Contingent liability of members.

  §431:4-317 Contingent liability of members. (a) Each member of a domestic mutual insurer, except as otherwise provided in this part, shall have a contingent liability, pro rata and not one for another, for the discharge of its obligations. The contingent liability shall be in such maximum amount as is stated in the insurer's articles of incorporation, but shall be not less than one, nor more than five, additional premiums for the member's policy at the annual premium rate and for a term of one year.  (b) Every policy issued by the insurer shall contain a statement of the contingent liability.  (c) Termination of the policy of any member shall not relieve the member of contingent liability for the member's proportion of the obligations of the insurer which accrued while the policy was in force. [L 1987, c 347, pt of §2]
HI Rev Stat § 431:4-318 (2021)
2021 Hawaii Revised Statutes|Title 24. Insurance|431. Insurance Code|431:4-318 Accrual of liability.

  §431:4-318 Accrual of liability. (a) If at any time the assets of a domestic mutual insurer are less than its liabilities and the minimum surplus, if any, required of it by this code as prerequisite for continuance of its certificate of authority, and the deficiency is not cured from other sources, its directors may, if approved by the commissioner, make an assessment only on its members who at any time within the twelve months immediately preceding the date assessment was authorized by its directors held policies providing for contingent liability.  (b) The assessment shall be for such an amount of money as is required in the opinion of the commissioner, to render the insurer fully solvent, and provide a reasonable amount of working capital above the minimum amount of surplus, but the working capital so provided shall not exceed five per cent of the insurer's liabilities as of the date on which the amount of deficiency was determined.  (c) A member's proportionate part of any assessment shall be computed by applying to the premium earned within the twelve-month period on the member's contingently liable policy or policies the ratio of the total assessment to the total premium earned during the period on all contingently liable policies which are subject to the assessment.  (d) No member shall have an offset against any assessment for which the member is liable, on account of any claim for unearned premium or losses payable. [L 1987, c 347, pt of §2]
HI Rev Stat § 431:4-319 (2021)
2021 Hawaii Revised Statutes|Title 24. Insurance|431. Insurance Code|431:4-319 Contingent liability as asset.

  §431:4-319 Contingent liability as asset. Any contingent liability to assessment of members of a domestic mutual insurer does not constitute an asset of the insurer in any determination of its financial condition. [L 1987, c 347, pt of §2]
HI Rev Stat § 431:4-320 (2021)
2021 Hawaii Revised Statutes|Title 24. Insurance|431. Insurance Code|431:4-320 Lien on reserves.

  §431:4-320 Lien on reserves. As to life insurance, any portion of an assessment of contingent liability upon a policyholder which remains unpaid following notice of such assessment, demand for payment, and lapse of a reasonable waiting period as specified in such notice, may, if approved by the commissioner, be secured by placing a lien on the reserves held by the insurer to the credit of the policyholder. [L 1987, c 347, pt of §2]
HI Rev Stat § 431:4-321 (2021)
2021 Hawaii Revised Statutes|Title 24. Insurance|431. Insurance Code|431:4-321 Nonassessable policies.

  §431:4-321 Nonassessable policies. (a) A domestic mutual insurer, after it has established a surplus not less in amount than the minimum capital funds required of a domestic stock insurer to transact like classes of insurance, may extinguish the contingent liability of its members to assessment and omit provisions imposing contingent liability in all policies currently issued.  (b) When the surplus has been so established and the commissioner has so ascertained, the commissioner shall issue to the insurer, at its request, the commissioner's certificate authorizing the extinguishment of the contingent liability of its members and the issuance of policies free therefrom.  (c) While it maintains surplus funds in amount not less than the minimum paid-up capital stock and surplus required of a domestic stock insurer authorized to transact like classes of insurance, a foreign or alien mutual insurer may, if consistent with its charter and the laws of its domicile, issue nonassessable policies covering subjects located, resident, or to be performed in this State. [L 1987, c 347, pt of §2]
HI Rev Stat § 431:4-322 (2021)
2021 Hawaii Revised Statutes|Title 24. Insurance|431. Insurance Code|431:4-322 Applies to all policies.

  §431:4-322 Applies to all policies. The commissioner shall not authorize a domestic mutual insurer so to extinguish the contingent liability of any of its members or in any of its policies to be issued, unless it qualifies to and does extinguish such liability of all its members and in all policies for all classes of insurance transacted by it. Except that, if required by the laws of another state in which the insurer is transacting insurance as an authorized insurer, the insurer may issue policies providing for the contingent liability of such of its members as may acquire such policies in such state, and need not extinguish the contingent liability applicable to policies theretofore in force in the state. [L 1987, c 347, pt of §2]
HI Rev Stat § 431:4-323 (2021)
2021 Hawaii Revised Statutes|Title 24. Insurance|431. Insurance Code|431:4-323 Revocation of authority.

  §431:4-323 Revocation of authority. (a) The commissioner shall revoke the authority of a domestic mutual insurer to extinguish the contingent liability of its members if:  (1) At any time the insurer's assets are less than the sum of its liabilities and the surplus required for such authority, or  (2) The insurer, by resolution of its directors approved by its members, requests that the authority be revoked.  (b) Upon revocation of such authority for any cause, the insurer shall not thereafter issue any policies without contingent liability, nor renew any policies then in force without written endorsement thereon providing for contingent liability. [L 1987, c 347, pt of §2]
HI Rev Stat § 431:4-324 (2021)
2021 Hawaii Revised Statutes|Title 24. Insurance|431. Insurance Code|431:4-324 Dividends.

  §431:4-324 Dividends. (a) The directors of a domestic mutual insurer may from time to time apportion and pay to its members dividends only out of that part of its surplus which is in excess of its required minimum surplus.  (b) The dividends shall be paid or credited to policyholders according to such reasonable classification of its policies as the directors may in their discretion from time to time establish. No dividend shall be paid which unfairly discriminates between policies within the same classification.  (c) No dividend, otherwise earned, shall be made contingent upon the payment of renewal premium on any policy. [L 1987, c 347, pt of §2]
HI Rev Stat § 431:4-325 (2021)
2021 Hawaii Revised Statutes|Title 24. Insurance|431. Insurance Code|431:4-325 Nonparticipating policies.

  §431:4-325 Nonparticipating policies. (a) If its bylaws so provide, a domestic mutual insurer may issue policies not entitled to participate in the insurer's savings and earnings, provided it is authorized to issue policies without contingent liability to assessment.  (b) Such insurer shall not issue in this State both participating and nonparticipating policies for the same class of risks, unless the right or absence of right to participate is reasonably related to the premium charge or the special character of the risks assumed. [L 1987, c 347, pt of §2]
HI Rev Stat § 431:4-326 (2021)
2021 Hawaii Revised Statutes|Title 24. Insurance|431. Insurance Code|431:4-326 Members' share of assets.

  §431:4-326 Members' share of assets. (a) Upon the liquidation of a domestic mutual insurer, its assets remaining after discharge of its indebtedness and policy obligations shall be distributed to its members who were members within the thirty-six months prior to the last termination of its certificate of authority.  (b) The distributive share of each member shall be in the proportion that the aggregate premiums earned by the insurer on the policies of the member during the combined periods of the member's membership, bear to the aggregate of all premiums so earned on the policies of all members. If a life insurer, the insurer shall make a reasonable classification of its life insurance policies so held by the members and a formula, based upon such classification, for determining the equitable distributive share of each such member. The classification and formula shall be subject to the commissioner's approval. [L 1987, c 347, pt of §2]
HI Rev Stat § 431:4-401 (2021)
2021 Hawaii Revised Statutes|Title 24. Insurance|431. Insurance Code|431:4-401 Application of other sections.

  §431:4-401 Application of other sections. The provisions of article 3, Insurers General Requirements, shall apply except where inconsistent with the express provisions of this article. [L 1987, c 347, pt of §2]
HI Rev Stat § 431:4-402 (2021)
2021 Hawaii Revised Statutes|Title 24. Insurance|431. Insurance Code|431:4-402 Scope.

  §431:4-402 Scope. Except where made expressly applicable to domestic reciprocal insurers, the provisions of this part shall apply to all authorized reciprocal insurers. [L 1987, c 347, pt of §2]