Hawaii Revised Statutes 431:19-308 – Applicable laws
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Terms Used In Hawaii Revised Statutes 431:19-308
- Sponsored captive insurance company: means a captive insurance company:
(1) In which the minimum required capital and surplus is provided by one or more sponsors;
(2) That is formed or licensed under this article;
(3) That insures the risks only of its participants through separate participant contracts; and
(4) That may fund its liability to each participant through one or more protected cells. See Hawaii Revised Statutes 431:19-101
A sponsored captive insurance company shall be subject to this part and to part I. If there is any conflict between this part and part I, this part shall control.