§431:9A-176  Application for license and fees.  (a)  A sworn application for a license under this part shall be filed with the commissioner on forms prescribed and furnished by the commissioner.

     (b)  The application for a license shall provide the following:

     (1)  Name, residence address, electronic-mail address, and other information required by the commissioner for an employee or officer of the owner or supervising entity that is designated by the applicant as the person responsible for the owner's compliance with the requirements of this part; provided that, if the owner derives more than fifty per cent of its revenue from the sale of stored property insurance, the information in this paragraph shall be provided for all officers, directors, and shareholders of record having beneficial ownership of ten per cent or more of any class of securities registered under the federal securities law; and

     (2)  Location of the applicant's home office.

     (c)  Any owner engaging in stored property insurance transactions on or before January 1, 2020, shall apply for licensure within ninety days of the date the application is made available by the commissioner.  Any applicant commencing operations after January 1, 2020, shall obtain a license prior to offering stored property insurance.

     (d)  Initial and renewed licenses issued pursuant to this part shall be valid for periods consistent with this article.

     (e)  Each owner licensed under this part shall pay to the commissioner the limited lines producer's fee pursuant to section 431:7-101. [L 2019, c 284, pt of §2; am L 2021, c 111, §11]


Revision Note


  "January 1, 2020" substituted for "the effective date of Act [284], Session Laws of Hawaii 2019" pursuant to §23G-15.