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HI HB841
Bill
Status
6/26/2013
Primary Sponsor
Joseph Souki
Click for details
AI Summary
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Updates the Insurance Code to streamline operations of the Insurance Division of the Department of Commerce and Consumer Affairs and maintain accreditation with the National Association of Insurance Commissioners
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Adopts the current authorized control level for risk-based capital trend test for life insurers and increases maximum allowable credit hours for producer continuing education courses
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Adopts provisions of the National Association of Insurance Commissioners Model Regulation regarding standards and commissioner authority for companies in hazardous financial condition
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Clarifies that the nonrefundable application fee for captive insurance companies redomesticating to Hawaii must be paid at time of petition for certificate of general good and clarifies applicability of sections to risk retention captive insurance companies
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Effective date of July 1, 2013
Legislative Description
Insurance; Insurance Code
Last Action
Act 190, 6/25/2013 (Gov. Msg. No. 1293).
6/26/2013