HRS §431:4-424
How a mutual insurance company's leftover money is shared
Read the official text at capitol.hawaii.gov ↗When a Hawaii-based reciprocal insurer shuts down, after paying all debts, policy claims, and returning certain surplus contributions and deposits, the remaining money goes to its subscribers. Only subscribers from the last twelve months get a share, based on a formula the insurance commissioner approved.
The statute, as written — Subscriber's share of assets
A copy, taken August 20, 2026. The version published by the Legislature is the one that governs, and it may have changed since. Check it before relying on anything here.
Upon the liquidation of a domestic reciprocal insurer, its assets remaining after discharge of its indebtedness and policy obligations, the return of any contributions to its surplus made as provided in section 431:4-422, and the return of any unused deposits, savings, or credits, shall be distributed to its subscribers who were such within the twelve months prior to such formula as may have been approved by the commissioner.
Sections this one refers to
§431:4-422 Who can lend money to a reciprocal insurer and when it can be paid back
LawTrove is not legal advice. The summary above is a computer-generated restatement — the authoritative text is the official version linked above.