HRS §431C-15
Examiner conflicts of interest and special experts
This section says the insurance commissioner cannot appoint an examiner who has a conflict of interest or is tied to the management or money of the company being examined. But being an owner, insured, or beneficiary does not automatically disqualify someone. The commissioner can still hire independent experts like actuaries or accountants, even if they also work for the company.
financial institutionsstate agencies
The statute, as written — Examiner; conflict of interest
(a) An examiner shall not be appointed by the commissioner if the examiner, either directly or indirectly, has a conflict of interest or is affiliated with the management of or owns a pecuniary interest in any person subject to examination under this chapter. This section shall not be construed to automatically preclude an examiner from being: (1) An owner; (2) An insured in a policy or life settlement contract; or (3) A beneficiary in a policy that is proposed for a life settlement contract. (b) Notwithstanding the requirements of this section, the commissioner may retain from time to time, on an individual basis, qualified actuaries, certified public accountants, or other similar individuals who are independently practicing their professions, even though these persons may from time to time be similarly employed or retained by persons subject to examination under this chapter.
LawTrove is not legal advice. The summary above is a computer-generated restatement — the authoritative text is the official version linked above.