2021 Hawaii Revised Statutes
Title 24. Insurance
431. Insurance Code
431:19-115 Laws applicable.
§431:19-115 Laws applicable. (a) No insurance laws of this State other than those contained in this article, article 15, or specifically referenced in this article shall apply to captive insurance companies; provided that:
(1) Sections 431:3-302 to 431:3-304.5, 431:3-307, 431:3-401 to 431:3-409, 431:3-411, 431:3-412, and 431:3-414; articles 1, 2, 4A, 5, 6, 9A, 9B, 9C, 11, 11A, and 3B; and chapter 431K shall apply to risk retention captive insurance companies; and
(2) Articles 1, 2, and 6 shall apply to class 5 companies.
(b) If any of the laws specified in this section are inconsistent with this article, this article shall apply unless the commissioner by rule or order determines otherwise on a case-by-case basis.
(c) The application of the foregoing provisions shall not diminish the commissioner's authority for exemption as may be contained therein or as may be deemed appropriate under the circumstances. [L 1987, c 347, pt of §2; am L 1994, c 190, § §5, 10; am L 1997, c 358, § §1, 2; am L 1998, c 150, §6; am L 1999, c 302, §7; am L 2000, c 36, §6 and c 133, §7; am L 2003, c 209, §9; am L 2012, c 253, §19; am L 2013, c 190, §5; am L 2016, c 140, §2; am L 2019, c 70, §24; am L 2021, c 112, §3]
