Honorable Calvin K.Y. Say

Speaker, House of Representatives

Twenty-First State Legislature

Regular Session of 2001

State of Hawaii

Sir:

Your Committee on Finance, to which was referred H.B. No. 462, H.D. 1, entitled:

begs leave to report as follows:

The purpose of this bill is to conform Hawaii's laws to those used in other states by codifying the Revised Uniform Arbitration Act.

The Judiciary, Hawaii Bankers Association, and Hawaii Commission on Uniform State Laws submitted testimony in support of this bill. The American Council of Life Insurers submitted testimony in opposition to this bill.

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. 462, H.D. 1, and recommends that it pass Third Reading.