STAND. COM. REP. NO. 1083

                                 Honolulu, Hawaii
                                                   , 1999

                                 RE: H.B. No. 1624
                                     H.D. 2




Honorable Calvin K.Y. Say
Speaker, House of Representatives
Twentieth State Legislature
Regular Session of 1999
State of Hawaii

Sir:

     Your Committee on Finance, to which was referred H.B. No.
1624, H.D. 1, entitled: 

     "A BILL FOR AN ACT RELATING TO CAPTIVE INSURANCE,"

begs leave to report as follows:

     The purpose of this bill is to allow the Insurance
Commissioner to set license and renewal fees for captive
insurance companies through administrative rules, rather than by
statute.

     The Hawaii Captive Insurance Council, J&H Marsh & McLennan
Management, Inc., and the Department of Commerce and Consumer
Affairs, testified in support of this bill.

     Your Committee has amended this bill by making technical,
nonsubstantive changes for style and clarity.

     As affirmed by the record of votes of the members of your
Committee on Finance that is attached to this report, your
Committee is in accord with the intent and purpose of H.B. No.
1624, H.D. 1, as amended herein, and recommends that it pass
Third Reading in the form attached hereto as H.B. No. 1624, H.D.
2.


 
 
 
 
 
 
                                 STAND. COM. REP. NO. 1083
                                 Page 2

 
                                   Respectfully submitted on
                                   behalf of the members of the
                                   Committee on Finance,



                                   ______________________________
                                   DWIGHT Y. TAKAMINE, Chair