There is created a nonprofit unincorporated legal entity to be known as the Hawaii insurance guaranty association. All insurers defined as member insurers in section 431:16-105 shall be and remain members of the association as a condition of their authority to transact the business of insurance in this State. The association shall perform its function under a plan of operation established and approved under section 431:16-109 and shall exercise its powers through a board of directors established under section 431:16-107.
Haw. Rev. Stat. § 431:16-106
Creation of association
Known as the Insurance Code
The act spans §§ 431:10-101 to 431:9N-104 (1,434 sections).
L 1987, c 347, pt of §2; am L 2000, c 93, §5
Official source: Hawaii State Legislature. Reproduced from public-domain Hawaii statutes; confirm against the official source for the current text. Not legal advice.