HRS §431:3-308
Insurance licenses for government-owned insurers
This section says that an insurance company cannot get or keep a license in Hawaii if it is owned or controlled by another state, a foreign government, or one of their political parts, unless it was already owned that way and licensed in Hawaii before January 1, 1957.
The statute, as written — Alien government owned insurers
No license to transact any kind of insurance business in this State shall be issued or renewed to any foreign or alien insurer or issued or continued in effect to any domestic insurer which is owned or financially controlled by another state of the United States other than this State, or by a foreign government, or by any political subdivision of either, or which is an agency or instrumentality of any such state, government, or subdivision, unless the insurer was so owned or controlled prior to January 1, 1957, and was authorized to do business in this State on or prior to that date.
LawTrove is not legal advice. The summary above is a computer-generated restatement — the authoritative text is the official version linked above.