HI SB3198

Creates a new chapter in Hawaii Revised Statutes establishing comprehensive regulation of continuing care retirement communities (CCRCs) under the insurance commissioner's oversight

Requires providers to obtain permits, certificates, or licenses from the commissioner before marketing, accepting deposits, entering contracts, or commencing construction of CCRCs

Defines key terms including "continuing care" as housing plus access to progressive health care levels (assisted living, nursing facilities) under contracts lasting longer than one year

Establishes financial oversight requirements including actuarial studies, audited financial statements, escrow agreements for deposits and entrance fees, and debt service coverage ratios

Prohibits dividend payments when a provider is in hazardous financial condition or not in satisfactory actuarial balance, and requires commissioner approval for providers leasing real property used in CCRCs