STAND. COM. REP. NO.  1045-12

Honolulu, Hawaii

                , 2012

RE:   S.B. No. 2766

      S.D. 2

      H.D. 1

Honorable Calvin K.Y. Say

Speaker, House of Representatives

Twenty-Sixth State Legislature

Regular Session of 2012

State of Hawaii

Sir:

     Your Committee on Health, to which was referred S.B. No. 2766, S.D. 2, entitled:

"A BILL FOR AN ACT RELATING TO ENTITIES REGULATED BY THE INSURANCE COMMISSIONER,"

begs leave to report as follows:

The purpose of this measure is to update the Insurance Code provisions relating to the regulation and administrative oversight of mutual benefit societies and fraternal benefit societies by the Insurance Division of the Department of Commerce and Consumer Affairs.

The Department of Commerce and Consumer Affairs supported this measure.  The American Council of Life Insurers provided comments on this measure.

     Your Committee has amended this measure by:

     (1)  Inserting blank amounts for new or amended fees to be collected by the Insurance Commission or in connection with administrative actions; and

     (2)  Making technical, nonsubstantive amendments for clarity and consistency.

     As affirmed by the record of votes of the members of your Committee on Health that is attached to this report, your Committee is in accord with the intent and purpose of S.B. No. 2766, S.D. 2, as amended herein, and recommends that it pass Second Reading in the form attached hereto as S.B. No. 2766, S.D. 2, H.D. 1, and be referred to the Committee on Consumer Protection & Commerce.

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

____________________________

RYAN I. YAMANE, Chair