Hawaii Revised Statutes 431:8-203 – Validity of contracts illegally effectuated
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Terms Used In Hawaii Revised Statutes 431:8-203
- Contract: A legal written agreement that becomes binding when signed.
- Unauthorized insurer: means an insurer not holding a valid certificate of authority to transact an insurance business in the state in which the subject resident is located or in which the insurance contract will be performed. See Hawaii Revised Statutes 431:8-102
A contract of insurance effectuated by an unauthorized insurer in violation of this article shall be voidable except at the instance of the insurer.