(a) The commissioner shall waive any requirements for a nonresident surplus lines broker license applicant with a valid license from the applicant’s home state, except for the requirements imposed by § 431:8-321, if the applicant’s home state awards nonresident surplus lines broker licenses to residents of this State on the same basis.

Terms Used In Hawaii Revised Statutes 431:8-322

  • Home state: means , with respect to an insured, the state in which an insured maintains the insured's principal place of business or, in the case of an individual, the state in which the individual maintains the individual's principal residence; provided that if one hundred per cent of the insured risk is located out of the state where the insured maintains the insured's principal place of business or the state where the individual maintains the principal residence, the home state shall be the state where the greatest percentage of the insured's taxable premium for that insurance contract is allocated. See Hawaii Revised Statutes 431:8-102
  • License: means a document issued by the commissioner authorizing a person to act as a surplus lines broker as specified in the document. See Hawaii Revised Statutes 431:8-102
  • 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
(b) A nonresident surplus lines broker’s satisfaction of the surplus lines broker’s home state’s continuing education requirements for licensed surplus lines brokers shall constitute satisfaction of this State’s continuing education requirements if the nonresident surplus lines broker’s home state recognizes the satisfaction of its continuing education requirements imposed upon surplus lines brokers from this State on the same basis.

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