2015 Hawaii Revised Statutes
TITLE 24. INSURANCE
431. Insurance Code
431:10E-103 Exceptions.
Note
Sections 431:10E-101 to 431:10E-103 designated as Part I by L 2012, c 80, §2.
§431:10E-103 Exceptions. Section 431:10E-102 does not apply to:
(1) Insurance on buildings and building service equipment pertaining thereto and part thereof, and machinery, tools, and other equipment appurtenant to or used in connection with any trade, business, manufacturing process, governmental operations, or public and private institutions, and household furniture and furnishings in dwelling houses, with respect to the difference between the actual value of the insured property at the time any loss or damage occurs and the cost of repairing, rebuilding, or replacing with new materials of like size, kind and quality, such property as has been damaged or destroyed by fire or other peril insured against.
(2) Insurance against the cost of demolition or reconstruction, or both, of any portion of the insured premises which has not suffered damage, and the additional cost of repair or reconstruction, or both, of portions of the insured premises which have suffered damage, necessary to comply with applicable laws or ordinances. [L 1987, c 347, pt of §2]
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