THE SENATE

Clarifies that the income or gross receipts derived from the principal business of an attorney-in-fact for a reciprocal insurer are exempt from the general excise tax. (HB2248 HD2)

CPH, EDT, WAM

HB 94, HD1

(HSCR811-08)

Testimony

Status

RELATING TO INSURANCE.

Enacts the Life Settlements Model Act, which establishes consumer protections in life settlement transactions where the owner of a life insurance policy transfers the death benefit for compensation that is less than the expected death benefit, but more than the surrender value of the policy. (HB94 HD1)

CPH, WAM

RELATING TO LIFE INSURANCE.

Allows the premiums for employee group life insurance policies to be paid by the employer, the insured employees, or both. Eliminates requirement that the employee group life insurance policies must cover at least 10 employees at date of issue. Eliminates policy limits against loss due to death of a dependent other than the spouse of the insured employee under an employee group life insurance policy. Excludes the exercise of among corporate affiliates of a term conversion privilege from the applicability of laws relating to the replacement of life insurance policies and annuities. (HB2255 HD2)

CPH, JDL

RELATING TO BANKS AND FINANCIAL INSTITUTIONS.

Prohibits the deceptive use of the name or trademark of a financial institution or its affiliates or subsidiaries. Establishes $10,000 fine for violations. (HB2254 HD2)

CPH, JDL

RELATING TO PROPERTY OF PUBLIC UTILITIES.

Grants public utilities the authority to transfer, assign, or otherwise dispose of property, except real property, without prior approval from the Public Utilities Commission, under circumstances calling for timely, decisive action in order to aid a customer whose operations have been disrupted due to unforeseeable events. (HB3080 HD1)

CPH

RELATING TO CONDOMINIUMS.

Allows condominium associations to invest funds in certificates of deposit through the Certificate of Deposit Account Registry Service network.

CPH

RELATING TO HEALTH.

Changes the name of the "Board of Medical Examiners" to the "Hawaii Medical Board". (HB2169 HD1)

CPH

Decision Making to follow, if time permits.

Persons wishing to testify should submit testimony in one of the following ways at least 24 hours prior to the hearing:

· In person: 1 copy of their testimony to the committee clerk, Room 407, State Capitol.

· By fax: Testimony may be faxed if less than 5 pages in length, to the Senate Sergeant-At-Arms Office at 586-6659 or 1-800-586-6659 (toll free for neighbor islands), at least 24 hours prior to the hearing. When faxing, please indicate to which committee the testimony is being submitted and the date and time of the hearing.

· By Email: Testimony may be emailed if less than 5 pages in length, to testimony@capitol.hawaii.gov. Please indicate to which committee the testimony is being submitted and the date and time of the hearing. Email sent to individual offices or any other Senate office will not be accepted.

If you require special assistance or auxiliary aids or services to participate in the public hearing process (i.e., sign or foreign language interpreter or wheelchair accessibility), please contact the committee clerk 24 hours prior to the hearing so arrangements can be made.

Please note: Documents made available through the Testimony hyperlink(s) above may not be posted until the start of the hearing.

Public Folder. A folder labeled “Public Folder” containing the measures and testimonies for the hearing will be available for shared use by members of the public.

FOR FURTHER INFORMATION, PLEASE CALL THE COMMITTEE CLERK AT 586-6760.

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Senator Russell S. Kokubun

Chair