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2013 Hawaii Revised Statutes
TITLE 24. INSURANCE
431. Insurance Code
431:19-301 Formation.


HI Rev Stat § 431:19-301 (2013) What's This?

§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]

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