(a) Except as provided in section 431:8-317, a nonresident applicant shall receive a nonresident surplus lines broker license if:

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Terms Used In Hawaii Revised Statutes 431:8-321

  • 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
  • License: means a document issued by the commissioner authorizing a person to act as a surplus lines broker as specified in the document. 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
(1) The applicant is currently licensed and is in good standing as a resident surplus lines broker in the applicant’s home state;
(2) The applicant has submitted the proper request for licensure and has paid the fees required by § 431:7-101;
(3) The applicant has submitted or transmitted to the commissioner the application for licensure that the applicant submitted to the applicant’s home state, or in lieu of the same, a completed uniform application; and
(4) The applicant’s home state awards nonresident surplus lines broker licenses to residents of this State on the same basis.
(b) The commissioner may verify the surplus lines broker’s licensing status through the producer database maintained by the National Association of Insurance Commissioners, its affiliates, or its subsidiaries.
(c) A nonresident surplus lines broker who moves from one state to another state or a resident surplus lines broker who moves from this State to another state shall file a change of address with the commissioner and shall provide certification from the new resident state within thirty days of the change of legal residence. No fee or license application shall be required. Failure to timely inform the commissioner of a change in address shall result in a penalty pursuant to § 431:2-203.

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