REPORT TITLE:
Insurance


DESCRIPTION:
Increases the mandatory insurer contribution to the insurance
examiners revolving fund, from $550 to $800.  Repeals sunset
provisions of fund and of other National Association of Insurance
Commission's accreditation requirements.  (SB1131 HD1)

 
a                                                               
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
                                                        1131
THE SENATE                              S.B. NO.           S.D. 1
TWENTIETH LEGISLATURE, 1999                                H.D. 1
STATE OF HAWAII                                            
                                                             
________________________________________________________________
________________________________________________________________


                   A  BILL  FOR  AN  ACT

RELATING TO INSURANCE.



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

 1      SECTION 1.  Section 431:2-307, Hawaii Revised Statutes, is
 
 2 amended by amending subsection (h) to read as follows:
 
 3      "(h)  Each authorized insurer shall pay, on or before August
 
 4 15, [1993,] 1999, and each year thereafter, on or before July 1,
 
 5 a sum of [$550] $800 to the commissioner to be credited to the
 
 6 insurance examiners revolving fund."
 
 7      SECTION 2.  Act 190, Session Laws of Hawaii 1994, as amended
 
 8 by Acts 61 and 232, Session Laws of Hawaii 1995, and by Act 358,
 
 9 Session Laws of Hawaii 1997, is amended by amending section 10 to
 
10 read as follows:
 
11      "SECTION 10.  This Act shall take effect on June 21, 1994[;
 
12 provided that on June 30, 2000, sections 1 through 4 of this Act
 
13 and section 431:2-307, Hawaii Revised Statutes, shall be
 
14 repealed, and sections 431:3-302, 431:5-307, and 431:19-107,
 
15 Hawaii Revised Statutes, are reenacted in the form in which they
 
16 read on June 20, 1994]."
 
17      SECTION 3.  Act 61, Session Laws of Hawaii 1995, is amended
 
18 by amending section 4 to read as follows:
 

 
a                                                               
Page 2                                                     1131
                                     S.B. NO.           S.D. 1
                                                        H.D. 1
                                                        

 
 1      "SECTION 4.  This Act shall take effect upon its approval[;
 
 2 provided that on June 30, 1999, the director of finance shall
 
 3 transfer to the credit of the state general fund all unexpended
 
 4 or unencumbered balances remaining in the insurance examiners
 
 5 revolving fund]."
 
 6      SECTION 4.  Act 232, Session Laws of Hawaii 1995, is amended
 
 7 by amending section 20 to read as follows:
 
 8      "SECTION 20.  This Act shall take effect upon its approval;
 
 9 [provided that on June 30, 2000, the director of finance shall
 
10 transfer to the credit of the state general fund all unexpended
 
11 or unencumbered balances remaining in the insurance examiners
 
12 revolving fund; and] provided that sections 5 through 18 shall
 
13 take effect on July 1, 1995."
 
14      SECTION 5.  Statutory material to be repealed is bracketed.
 
15 New statutory material is underscored.
 
16      SECTION 6.  This Act shall take effect upon its approval.
 

 
a