HI HB1439

Extends Act 177, Session Laws of Hawaii 2008 (Life Settlements Act) by amending its repeal date from two years to June 16, 2015, providing an additional five-year authorization period.

Establishes a temporary life settlements working group within the Department of Commerce and Consumer Affairs to study issues including the definition of "insurable interest" and transferability of life insurance policies.

Working group membership includes the insurance commissioner (as chairperson), representatives from the life settlement industry, American Council of Life Insurers, National Association of Insurance Financial Advisors, and AARP or consumer organizations.

Requires the working group to submit findings, recommendations, and proposed implementing legislation to the legislature no later than twenty days before the 2011 regular session convening, with the group ceasing to exist on June 30, 2011.

Takes effect on June 15, 2010.