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Hawaii Revised Statutes Division 2. Business § 431:2-306

Current as of January 01, 2025 | Updated by Findlaw Staff

(a) Examinations of:

(1) Any insurer;

(2) Any person subject to examination under section 431:2-303(2); or

(3) Any insurance guaranty fund established pursuant to article 16; shall be at the expense of the insurer, person, or guaranty fund examined. Examination expenses shall include fees, mileage, and expenses incurred as to witnesses or any other person, as defined in article 1, subject to an examination by the commissioner.

(b) The insurer, person, or guaranty fund examined and liable therefor shall pay to the commissioner's examiners upon presentation of an itemized statement, their actual travel expenses, their reasonable living expense allowance, and their per diem compensation at a reasonable rate approved by the commissioner, incurred on account of the examination. All payments collected by the commissioner shall be remitted to:

(1) The compliance resolution fund; or

(2) The captive insurance administrative fund if independent contractor examiners or captive staff examiners were employed for a captive insurer's examination.

The commissioner or the commissioner's examiners shall not receive or accept any additional emolument on account of any examination.

(c) The commissioner may assess all examination costs of any person subject to examination under section 431:2-303(1) and article 16 when there is a premium trust fund shortage due to substantial noncompliance with section 431:9A-123.5.

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Cite this article: FindLaw.com - Hawaii Revised Statutes Division 2. Business § 431:2-306 - last updated January 01, 2025 | https://codes.findlaw.com/hi/division-2-business/hi-rev-st-sect-431-2-306/

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