2021 Hawaii Revised Statutes
Title 21. Labor and Industrial Relations
386A. Hawaii State Compensation Mutual Insurance Fund
386A-3 Fund's purpose.

Universal Citation: HI Rev Stat § 386A-3 (2021)

§386A-3 Fund's purpose. The fund's purpose is to sell workers' compensation insurance at the lowest actuarially responsible price as determined by the fund's board. The fund shall commence operation upon appointment and qualification of the initial five members of the fund's board, but the workers' compensation insurance sold initially by the fund shall provide insurance coverage for work injuries occurring from a date to be established by the board and not more than one year from the date of the appointment and qualification.

The fund may serve as a model for the workers' compensation insurance industry to determine minimum insurance premium rates. It shall be competitive with other private workers' compensation insurance carriers. [L 1985, c 296, pt of §11; am L 1989, c 277, §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.