Hawaii Revised Statutes Division 2. Business § 431:10D-210

(1) The association must have been formed for purposes other than obtaining insurance.

(2) The members eligible for insurance under the policy shall be all of the members of the association.

(3) The premium for the policy shall be paid either from the association's own funds or from charges collected from the insured members specifically for the insurance, or from both. No policy may be placed in force unless and until at least seventy-five per cent of the then eligible members of the association, excluding any as to whom evidence of individual insurability is not satisfactory to the insurer, have elected to be covered and have arranged for payment of their individual contributions to the association.

(4) Charges collected from the insured members specifically for the insurance, and the dues of the association if they include the cost of insurance, may be determined according to each attained age or in not less than four reasonably spaced attained age groups.

(5) The policy must cover at least twenty-five persons at date of issue.

(6) The amounts of insurance under the policy must be based upon some plan precluding individual selection either by the members or by the association.