Hawaii Revised Statutes 431:16-113 – Prevention of insolvencies
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§431:16-113 Prevention of insolvencies. To aid in the detection and prevention of insurer insolvencies:
(1) The board of directors, upon majority vote, may make recommendations to the commissioner on matters generally related to improving or enhancing regulation for solvency; and
(2) At the conclusion of any domestic insurer insolvency in which the association was obligated to pay covered claims, the board of directors may prepare a report on the history and causes of the insolvency, based on the information available to the association, and submit the report to the commissioner.
Terms Used In Hawaii Revised Statutes 431:16-113
- Association: means the Hawaii insurance guaranty association created under § 431:16-106. See Hawaii Revised Statutes 431:16-105