Hawaii Revised Statutes 431:21-111 – Duties and powers of the commissioner

(a) The commissioner shall provide the association with a statement of the net direct written premiums of each member insurer.

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 431:21-111

month: means a calendar month; and the word "year" a calendar year. See Hawaii Revised Statutes 1-20

(b) The commissioner shall approve an assessment of member insurers by the association when the association is insolvent as defined in section [431:15-103(a)].

(c) The commissioner may suspend or revoke after a hearing the certificate of authority of any member insurer which fails to pay an assessment when due or fails to comply with the plan of operation. As an alternative, the commissioner may levy a fine on any member insurer which fails to pay an assessment when due. The fine shall not exceed five per cent of the unpaid assessment per month and shall not be less than $100 per month.

Article 21 Contents

LawServer

Hawaii Revised Statutes 431:21-111 – Duties and powers of the commissioner

Terms Used In Hawaii Revised Statutes 431:21-111

Law Offices of David W. Barlow

941 Law Help