Hawaii Revised Statutes 431:8-309 – Effect of payment to surplus lines broker
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Terms Used In Hawaii Revised Statutes 431:8-309
- Contract: A legal written agreement that becomes binding when signed.
- Surplus lines broker: means any person licensed under section 431:8-310 to place insurance on risks resident, located, or to be performed in this State with unauthorized insurers. See Hawaii Revised Statutes 431:8-102
Payment of a premium to a surplus lines broker acting for a person other than the surplus lines broker in negotiating, continuing, or reviewing any policy of insurance under this part shall be deemed to be payment to the insurer, notwithstanding whatever conditions or stipulations may be inserted in the policy or contract.