Contract: A legal written agreement that becomes binding when signed.
producer: means a person required to be licensed under the laws of this State to sell, solicit, or negotiate insurance. See Hawaii Revised Statutes 431:9A-102
(b) To appoint a producer as its agent, the insurer shall file, in a format approved by the commissioner, a notice of appointment within fifteen days from the date the agency or business entity contract is executed or the first insurance application is submitted to the insurer. If the appointment form is not received by the commissioner within the fifteen-day period, the appointment shall become effective on the date on which the commissioner receives the appointment form. A producer shall disclose to a client if the conditions of subsection (a) have not been met. An insurer may also elect to appoint a producer to all or some insurers within the insurer’s holding company system or group by filing with the commissioner a single appointment notice.(c) Upon receipt of the notice of appointment and within a reasonable time not to exceed thirty days, the commissioner shall verify that the producer is eligible for appointment. If the producer is determined to be ineligible for appointment, the commissioner shall notify the appointing insurer within five days of its determination.(d) An appointing insurer shall pay an appointment fee, in the amount and method of payment set forth in article 7, for each producer appointed by the appointing insurer.(e) An appointing insurer shall remit, in a manner prescribed by the commissioner, a renewal appointment fee in the amount set forth in article 7.
