Hawaii Revised Statutes 431:22-103 – Establishment of loss mitigation grant program
Current as of: 2024 | Check for updates
|
Other versions
Terms Used In Hawaii Revised Statutes 431:22-103
- Commissioner: means the insurance commissioner. See Hawaii Revised Statutes 431:22-101
- Wind resistive devices: means devices, techniques, and residential safe rooms, as identified and determined in accordance with section 431:22-104(b), that increase a building's or structure's resistance to damage from wind forces. See Hawaii Revised Statutes 431:22-101
The commissioner shall develop and implement a pilot grant program to encourage the installation of wind resistive devices. The commissioner may spend up to $6,000,000 over three years for the grant program, which amounts shall include the costs of administering, operating, and marketing the grant program.
For the first year of the grant program, the commissioner may make grants only to former policyholders of the Hawaii hurricane relief fund. From the second year onward, the commissioner may also make grants to all single or multi-family residential owners, which may include owners of townhouse units or condominium apartments under section 431:22-104(c)(3).