HRS §431:16-106
Creating the Hawaii insurance guaranty association
This section creates the Hawaii insurance guaranty association as a nonprofit group. All insurance companies that are member insurers must join and stay members to keep their license to sell insurance in Hawaii. The association works under a plan and is run by a board of directors.
The statute, as written — Creation of association
There is created a nonprofit unincorporated legal entity to be known as the Hawaii insurance guaranty association. All insurers defined as member insurers in section 431:16-105 shall be and remain members of the association as a condition of their authority to transact the business of insurance in this State. The association shall perform its function under a plan of operation established and approved under section 431:16-109 and shall exercise its powers through a board of directors established under section 431:16-107.
Sections this one refers to
§431:16-105 Key terms used in this insurance part
§431:16-109 Plan of operation
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