CONFERENCE COMMITTEE REP. NO. 18
Honolulu, Hawaii
, 2005
RE: S.B. No. 754
S.D. 1
H.D. 1
C.D. 1
Honorable Robert Bunda
President of the Senate
Twenty-Third State Legislature
Regular Session of 2005
State of Hawaii
Honorable Calvin K.Y. Say
Speaker, House of Representatives
Twenty-Third State Legislature
Regular Session of 2005
State of Hawaii
Sir:
Your Committee on Conference on the disagreeing vote of the Senate to the amendments proposed by the House of Representatives in S.B. No. 754, S.D. 1, H.D. 1, entitled:
"A BILL FOR AN ACT RELATING TO INSURANCE,"
having met, and after full and free discussion, has agreed to recommend and does recommend to the respective Houses the final passage of this bill in an amended form.
The purpose of this measure is to conform certain insurance laws to federal law and national standards.
This measure incorporates federal and national standards into insurance code provisions relating to, among other things, the examination of domestic insurers, suspension of an insurer's certificate of authority, electronic filing of insurance policy revisions, the liquidation of an insolvent insurer, and the Interstate Insurance Product Regulation Compact.
Your Committee on Conference has amended this measure:
(1) By deleting from proposed section 431:3-219(b), Hawaii Revised Statutes (HRS), the phrase "one-year" as it refers to original and extended suspensions of an insurer's certificate of authority, in order to be consistent with current statutory language in section 431:3-219(a), HRS, that implies that a suspension may be imposed for a period of less than one year;
(2) By making technical, nonsubstantive amendments; and
(3) To take effect upon its approval, rather than on July 1, 2099.
As affirmed by the record of votes of the managers of your Committee on Conference that is attached to this report, your Committee on Conference is in accord with the intent and purpose of S.B. No. 754, S.D. 1, H.D. 1, as amended herein, and recommends that it pass Final Reading in the form attached hereto as S.B. No. 754, S.D. 1, H.D. 1, C.D. 1.
Respectfully submitted on behalf of the managers:
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ON THE PART OF THE HOUSE |
ON THE PART OF THE SENATE |
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____________________________ Kenneth Hiraki, Co-Chair |
____________________________ Ron Menor, Chair |
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____________________________ Sylvia Luke, Co-Chair |
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