THE SENATE	S.B. NO.	2021
TWENTY-FIFTH LEGISLATURE, 2010
STATE OF HAWAII

A BILL FOR AN ACT

RELATING TO MUTUAL BENEFIT SOCIETIES.

BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF HAWAII:

     SECTION 1.  Chapter 432, article 1, Hawaii Revised Statutes, is amended by adding a new section to part III to be appropriately designated and to read as follows:

     "§432:1-   Certificate of authority; revocation. Any certificate of authority issued to a mutual benefit society under this part shall be subject to sections 431:3-216 to 431:3-221 on the revocation of certificates of authority issued to insurers."

     SECTION 2.  This Act does not affect rights and duties that matured, penalties that were incurred, and proceedings that were begun before its effective date.

     SECTION 3.  New statutory material is underscored.

     SECTION 4.  This Act shall take effect upon its approval.

INTRODUCED BY:

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Report Title:

Mutual Benefit Societies; Certificate Revocation

Description:

Expressly subjects the certificates of authority of mutual benefit societies to the revocation provisions on certificates of authority issued to insurers.

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