Licensing of Insurance Producers

What this document is

Hawaii Revised Statutes chapter 431 (Insurance Code), Article 9A - Licensing of Insurance Producers (53 of 55 listed sections) is a state statute published by Hawaii State Legislature (capitol.hawaii.gov); text as captured by the Internet Archive and verified against the live official page. It is one of the Hawaii documents that insurance license exam questions are written from, including hawaii property & casualty practice questions. This page summarizes it and points to the official version, which is the text to rely on.

Sections cited in practice questions

Each practice answer shows the exact passage it comes from. These are sections of this document that questions cite, with a short excerpt from the source text.

• Haw. Rev. Stat. § 431:9A-111(b) (Temporary license may not outlast disposal of the business)

  “A temporary license may not continue after the owner, the personal representative, or the person controlling the business disposes of the business.”

• Haw. Rev. Stat. § 431:9A-123.5(b)(2) (No separate account required for each insurer)

  “The licensee shall not be required to maintain a separate bank account or other account for the funds of each insurer or person entitled to such funds, if and so long as the funds held for the insurer or person entitled to such funds are reasonably ascertainable from the books of account and records of the licensee.”

• Haw. Rev. Stat. § 431:9A-112.5(a)(1) (Controlled business exceeding all other business)

  “(a) The commissioner shall neither grant nor extend a producer's license to any person if the commissioner has reasonable cause to believe that: (1) In the case of an application for license extension, during either of the two calendar years immediately preceding the extension date of the license,...”

• Haw. Rev. Stat. § 431:9A-108.5(b) (Appointment of the commissioner as agent is irrevocable)

  “The appointment shall be irrevocable for as long as there could be any cause of action against the producer arising out of the producer's insurance transactions in this State.”

• Haw. Rev. Stat. § 431:9A-113(c) (Renewal or deferred commissions)

  “(c) Renewal or other deferred commissions may be paid to a person for selling, soliciting, or negotiating insurance in this State if that person was required to be licensed under this article at the time of the sale, solicitation, or negotiation and was so licensed.”

Practice this material

Questions about this source

More Hawaii sources

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