Hawaii Code § 4
Hawaii Code § 4. Reproduced from the official Hawaii Revised Statutes, with a citation summary, verification link, and related provisions.
§ 4.
31:3-413 Phase-in provision. (a) For risk-based capital reports required to be filed by life or health insurers with respect to 1994, the following requirements shall apply in lieu of sections 431:3-403, 431:3-404, 431:3-405, and 431:3-406: (1) In the event of a company action level event with respect to a domestic insurer, the commissioner shall take no regulatory action hereunder; (2) In the event of a regulatory action level event under section 431:3-404(a)(1), (2), or (3), the commissioner shall take the actions required under section 431:3-403; (3) In the event of a regulatory action level event under section 431:3-404(a)(4), (5), (6), (7), (8), or (9), or an authorized control level event, the commissioner shall take the actions required under section 431:3-404 with respect to the insurer; and (4) In the event of a mandatory control level event with respect to an insurer, the commissioner shall take the actions required under section 431:3-405 with respect to the insurer. (b) For risk-based capital reports required to be filed by property and casualty insurers with respect to 1997, the following requirements shall apply in lieu of sections 431:3-403, 431:3-404, 431:3-405, and 431:3-406: (1) In the event of a company action level event with respect to a domestic insurer, the commissioner shall take no regulatory action hereunder; (2) In the event of a regulatory action level event under section 431:3-404(a)(1), (2), or (3), the commissioner shall take the actions required under section 431:3‑403; (3) In the event of a regulatory action level event under section 431:3-404(a)(4), (5), (6), (7), (8), or (9), or an authorized control level event, the commissioner shall take the actions required under section 431:3-404 with respect to the insurer; and (4) In the event of a mandatory control level event with respect to an insurer, the commissioner shall take the actions required under section 431:3-405 with respect to the insurer. [L 1994, c 190, pt of §1; am L 1995, c 61, §2 as superseded by c 232, §4; am L 1997, c 75, §14; am L 1999, c 128, §2] Previous Vol09_Ch0431-0435H Next
Source: official Hawaii text · Last verified 2026-08-27
At a glance
- Citation: Hawaii Revised Statutes § 4
- Jurisdiction: Hawaii
- Code: Hawaii Revised Statutes
- Text: transcribed from the official source (verify below)
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