2011 Hawaii Code
DIVISION 2. BUSINESS
TITLE 24. INSURANCE
431. Insurance Code
§431 19-101.3 Classes of captive insurance.
§431:19-101.3 Classes of captive insurance. Each captive insurance company formed under this article shall be designated and licensed as one of the following classes of captive insurance companies:
(1) A class 1 company shall be limited to a pure captive insurance company that only writes business as a reinsurer;
(2) A class 2 company shall be limited to a pure captive insurance company that is not a class 1 company;
(3) A class 3 company shall be any company formed under this article as an association captive insurance company or a risk retention captive insurance company;
(4) A class 4 company shall be a sponsored captive insurance company formed under part III of this article; and
(5) A class 5 company shall be a reinsurance or excess insurance company formed under this article. [L 1999, c 302, §1; am L 2000, c 36, §3; am L 2005, c 31, §2; am L 2008, c 190, §4]
Disclaimer: These codes may not be the most recent version. Hawaii may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
