HRS §431:4-105
Insurance company must file an affidavit before getting a license
Before an insurance company can apply for its first license, it must file a sworn statement with the insurance commissioner. The statement must list details about its stock, shareholders, and confirm that all required capital was paid in cash.
businesses
The statute, as written — Affidavit
(a) Before applying to the commissioner for an initial certificate of authority, a stock or mutual insurer is required to file with the commissioner an affidavit, sworn to by the president, secretary, and treasurer of the corporation as named in the articles of incorporation. (b) The affidavit shall set forth: (1) The number of shares which the corporation is authorized to issue; (2) The par value of the shares; (3) The names of the shareholders; (4) The number of shares owned by each shareholder; (5) The amount of money paid to the corporation by each shareholder; and (6) That the required capital has been paid in full in cash.
LawTrove is not legal advice. The summary above is a computer-generated restatement — the authoritative text is the official version linked above.