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Current as of January 01, 2025 | Updated by Findlaw Staff
For purposes of this article:
“Accredited state” means a state in which the insurance department or regulatory agency meets the minimum financial regulatory standards promulgated from time to time by the National Association of Insurance Commissioners.
“Control” has the meaning ascribed in section 431:11-102.
“Controlled insurer” means a licensed insurer which is controlled, directly or indirectly, by a producer.
“Controlling producer” means a producer who, directly or indirectly, controls an insurer.
“Licensed insurer” or “insurer” means any person, firm, association, or corporation duly licensed to transact a property or casualty insurance business in this State. The following are not licensed insurers for the purposes of this article:
(1) All residual market pools and joint underwriting authorities or associations; and
(2) Captive insurance companies as defined in section 431:19-101, other than risk retention captive insurance companies.
“Producer” means any person, firm, association, or corporation licensed pursuant to article 9A, when, for any compensation, commission, or other thing of value, the person, firm, association, or corporation acts or aids in any manner in soliciting, negotiating, or procuring the making of any insurance contract on behalf of an insured other than the person, firm, association, or corporation.
Cite this article: FindLaw.com - Hawaii Revised Statutes Division 2. Business § 431:11A-101 - last updated January 01, 2025 | https://codes.findlaw.com/hi/division-2-business/hi-rev-st-sect-431-11a-101/
FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature before relying on it for your legal needs.
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