(a) Before applying to the commissioner for an initial certificate of authority, a stock or mutual insurer is required to file with the commissioner an affidavit, sworn to by the president, secretary, and treasurer of the corporation as named in the articles of incorporation.
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Terms Used In Hawaii Revised Statutes 431:4-105

  • Affidavit: A written statement of facts confirmed by the oath of the party making it, before a notary or officer having authority to administer oaths.
  • Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
(b) The affidavit shall set forth:

(1) The number of shares which the corporation is authorized to issue;
(2) The par value of the shares;
(3) The names of the shareholders;
(4) The number of shares owned by each shareholder;
(5) The amount of money paid to the corporation by each shareholder; and
(6) That the required capital has been paid in full in cash.
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