In addition to investments excluded under other provisions of this article, an insurer shall not, except with the commissioner’s approval in advance, invest in or loan its funds upon the security of, or hold:

(1) Issued shares of its own capital stock, except for the purpose of mutualization in accordance with § 431:4-502.

Terms Used In Hawaii Revised Statutes 431:6-401

  • Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
(2) Any investment or loan ineligible under § 431:6-105.
(3) Securities issued by an insolvent corporation.
(4) Any investment or security which is found by the commissioner to be designed to evade any prohibition of this article.

  Previous
Next  
 Part IV Contents