Hawaii Revised Statutes 431:8-315 – Tax on surplus lines
Current as of: 2024 | Check for updates
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As used in this subsection, “gross premiums” means the amount of the policy or coverage premium charged by the insurer in consideration for the insurance contract. Any charges for policy, survey, inspection, service, or similar fees or other charges added by the broker shall not be considered part of gross premiums.
Terms Used In Hawaii Revised Statutes 431:8-315
- Contract: A legal written agreement that becomes binding when signed.
- Home state: means , with respect to an insured, the state in which an insured maintains the insured's principal place of business or, in the case of an individual, the state in which the individual maintains the individual's principal residence; provided that if one hundred per cent of the insured risk is located out of the state where the insured maintains the insured's principal place of business or the state where the individual maintains the principal residence, the home state shall be the state where the greatest percentage of the insured's taxable premium for that insurance contract is allocated. See Hawaii Revised Statutes 431:8-102
- Surplus lines broker: means any person licensed under section 431:8-310 to place insurance on risks resident, located, or to be performed in this State with unauthorized insurers. See Hawaii Revised Statutes 431:8-102
- Surplus lines insurance: means any property and casualty insurance on risks procured from or placed with an unauthorized insurer under the laws of the insured's home state. See Hawaii Revised Statutes 431:8-102