(a) The board of directors shall have responsibility and control over the organization, management, policies, and activities of the association. The board of directors of the association shall consist of twelve persons serving terms as established in the plan of operation. The board shall be composed of:

lawyer at desk

Ask an insurance law question, get an answer ASAP!
Click here to chat with a lawyer about your rights.

Terms Used In Hawaii Revised Statutes 431:21-104

  • Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
(1) Eight voting members selected by the member insurers;
(2) One voting member appointed by the commissioner to represent insurance producers; and
(3) Three voting members appointed by the commissioner to represent the public.
(b) The commissioner shall appoint the initial members of the board of directors. All member insurers shall be fairly represented on the board.
(c) Members of the board may be reimbursed from the assets of the association for reasonable expenses incurred by them as members of the board of directors.

  Previous
Next  
 Article 21 Contents