Haw. Code R. § 16-7-2 - Membership

(a) All insurers authorized to write casualty insurance within this state on a direct basis shall be members of the plan. Every casualty insurer shall be a member of the plan and shall remain a member as a condition of its authority to continue to transact casualty of insurance in this state.

(b) A member may terminate membership in the plan as of the close of a fiscal year upon terminating its certificate of authority to transact casualty insurance within this state. With respect to all policies in effect on the effective date of a member's termination, the liability of the terminating member shall cease on the expiration date of each policy. Termination of membership shall not discharge or otherwise affect liabilities incurred prior to the expiration date of policies, and the member shall be charged or credited in due course with its proper share of all expenses, losses, and profits allocable thereto.

(c) The fiscal year of the plan shall be determined by the board of directors (hereinafter referred to as the "board").

Notes

Haw. Code R. § 16-7-2

[Eff 6/22/81] (Auth: HRS 435C-2) (Imp: HRS § 435C-3)