HRS §431:19-113
Captive insurance companies are exempt from joining state insurance funds
A captive insurance company cannot join or pay into any state insurance plan, pool, association, or insolvency fund, except as allowed under chapter 386. Also, the captive company, its insured, its parent, affiliates, or member organizations cannot get any benefits from those funds for claims from the captive's operations.
The statute, as written — Exemption from compulsory associations
No captive insurance company shall be permitted to join or contribute financially to any plan, pool, association, or guaranty or insolvency fund in this State, except as provided under chapter 386, nor shall any captive insurance company, its insured, or its parent or any affiliated entity, or any member organization of its association, receive any benefit from any plan, pool, association, or guaranty or insolvency fund for claims arising out of the operations of the captive insurance company.
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