HRS §431:4-214
Commissioner can make rules and protect good-faith actions
The insurance commissioner can create rules needed to carry out their duties under certain sections of the law. They can also classify insurance companies, securities, and other things they oversee. If someone acts in good faith following these rules, they are not liable even if the rule is later changed or invalidated.
everyone
The statute, as written — Rules and regulations
The commissioner may make such rules and regulations as may be necessary for the execution of the functions vested in the commissioner by section 431:4-208 to section 431:4-214, and may for such purpose classify domestic stock insurance companies, securities, and other persons or matters within the commissioner's jurisdiction. No provision of section 431:4-208 to section 431:4-210 imposing any liability shall apply to any act done or omitted in good faith in conformity with any rule or regulation of the commissioner, notwithstanding that such rule or regulation may, after such act or omission, be amended or rescinded or determined by judicial or other authority to be invalid for any reason.
Sections this one refers to
§431:4-208 Who must report stock ownership in an insurance company
§431:4-210 Rules against selling company stock you do not own
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