(a) The commissioner shall neither grant nor extend a producer‘s license to any person if the commissioner has reasonable cause to believe that:

lawyer at desk

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 431:9A-112.5

  • Commissioner: means the insurance commissioner. See Hawaii Revised Statutes 431:9A-102
  • License: means a document issued by the commissioner authorizing a person to act as an insurance producer for the lines of authority specified in the document. See Hawaii Revised Statutes 431:9A-102
  • Licensee: means any type of insurance producer or producer. See Hawaii Revised Statutes 431:9A-102
  • Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
  • producer: means a person required to be licensed under the laws of this State to sell, solicit, or negotiate insurance. See Hawaii Revised Statutes 431:9A-102
(1) In the case of an application for license extension, during either of the two calendar years immediately preceding the extension date of the license, the aggregate amount of premiums on insurance represented by controlled business exceeded the aggregate amount of premiums on all other insurance business of the licensee; or
(2) The circumstances of the applicant for license issuance or extension are such as to cause the commissioner reasonably to believe that during the twelve-month period that would immediately follow the issuance or extension of the license, if granted, the aggregate amount of premiums on controlled business would exceed the aggregate amount of premiums on all other insurance business of the applicant.
(b) “Controlled business” means insurance procured or to be procured by or through a licensee upon:

(1) The licensee’s own life, person, property, or risks, or those of the licensee’s immediate family; or
(2) The life, person, property, or risks of the licensee’s employer or partnership, of which the licensee or a member of the licensee’s immediate family is an officer, director, substantial stockholder, partner, associate, or employee.
  Previous
Next  
 Part I Contents