HRS §431:3-214
How insurance licenses are renewed and changed
This section explains that insurance company licenses do not expire but must be renewed by the state insurance commissioner. The commissioner sets a renewal date and gives written notice at least 30 days before. The license can also be updated if the company's charter or powers change.
The statute, as written — Extension; amendment
(a) No certificate of authority shall contain an expiration date, but all certificates of authority shall be extended by the commissioner from time to time in order to continue to be valid. When the commissioner issues or extends a certificate of authority, the commissioner shall determine the date prior to which the certificate of authority must be extended and shall so notify the insurer in writing. This date is called the extension date. The extension date shall be any date not less than one year and not more than three years after date of issue or extension of the certificate of authority. If the insurer qualifies, its certificate of authority shall be extended. The commissioner shall provide each holder of a certificate of authority at least thirty days' advance written notice of the applicable extension date. (b) The commissioner shall amend a certificate of authority at any time in accordance with changes in the insurer's charter or insuring powers.
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