§431:16-106 Creation of association. [(a)] 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(7) 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.

(b) All meetings and records of the board of directors shall be open to all member insurers except for those meetings and records pertaining to the solvency, liquidation, rehabilitation, or conservation of any member insurer deemed confidential. A member insurer shall provide written designation of its representative or representatives to the board meetings. [L 1987, c 347, pt of §2]