STAND. COM. REP. NO.  1599-12

Honolulu, Hawaii

                , 2012

RE:   S.B. No. 2766

      S.D. 2

      H.D. 2

Honorable Calvin K.Y. Say

Speaker, House of Representatives

Twenty-Sixth State Legislature

Regular Session of 2012

State of Hawaii

Sir:

     Your Committee on Finance, to which was referred S.B. No. 2766, S.D. 2, H.D. 1, 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, fraternal benefit societies, and health maintenance organizations by the Insurance Division of the Department of Commerce and Consumer Affairs.

The Department of Commerce and Consumer Affairs testified in support of this measure.

     Your Committee has amended this measure by changing its effective date to July 1, 2030, to facilitate further discussion.

     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 S.B. No. 2766, S.D. 2, H.D. 1, as amended herein, and recommends that it pass Third Reading in the form attached hereto as S.B. No. 2766, S.D. 2, H.D. 2.

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

____________________________

MARCUS R. OSHIRO, Chair