Bill Text: HI HB985 | 2020 | Regular Session | Introduced

Hawaii House Bill 985 (Prior Session Legislation)

Introduced

Bill Title: Relating To Forms Submitted To The Insurance Commissioner.

Spectrum: Partisan Bill (Democrat 1-0)

Status: (Introduced - Dead) 2019-12-01 - Carried over to 2020 Regular Session. [HB985 Detail]

Download: Hawaii-2020-HB985-Introduced.html

HOUSE OF REPRESENTATIVES	H.B. NO.	985
THIRTIETH LEGISLATURE, 2019
STATE OF HAWAII

A BILL FOR AN ACT

RELATING TO FORMS SUBMITTED TO THE INSURANCE COMMISSIONER.

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

SECTION 1. Section 481R-4, Hawaii Revised Statutes, is amended by amending subsections (a) and (b) to read as follows:

"(a) Before conducting business in this State or issuing any warranty, a warrantor shall register with the commissioner, on a form prescribed by the commissioner, and shall pay to the commissioner a fee as provided under section 431:7-101. A person who sells or solicits a vehicle protection product, but who is not a warrantor, shall not be required to register with the commissioner as a warrantor.

(b) Warrantor registration records shall be updated annually and shall contain the following information:

(1) The address of the principal office of the warrantor;

(2) The name and address of the warrantor's agent for the service of process in this State, if other than the warrantor;

(3) The identities of the warrantor's executive officer or officers directly responsible for the warrantor's vehicle protection product business;

(4) The name, address, and telephone number of any administrators designated by the warrantor to be responsible for the administration of vehicle protection product warranties in this State; and

[~~(5)~~ ~~A copy of each warranty form the warrantor proposes to use in this State; and~~

~~(6)~~] (5) A statement that the warrantor is in compliance with the financial security requirements of section 481R-5 and that details how the warrantor intends to meet the requirements, and proof of compliance with the requirements."

SECTION 2. Section 481X-3, Hawaii Revised Statutes, is amended to read as follows:

"[[]§481X-3[]] Registration. (a) Before conducting business in this State, a provider shall register with the commissioner, on a form prescribed by the commissioner, and shall pay to the commissioner a fee as provided under section 431:7-101.

(b) Provider registration shall be updated annually and shall contain the following information:

(1) The address of the principal office of the provider;

(2) The name and address of the provider's agent for the service of process in this State, if other than the provider;

(3) The identities of the provider's executive officer or officers directly responsible for the provider's service contract business;

(4) The name, address, and telephone number of any administrators designated by the provider to be responsible for the administration of service contracts in this State; and

[~~(5)~~ ~~A copy of each service contract form the provider proposes to use in this State; and~~

~~(6)~~] (5) A statement that the provider is in compliance with the financial responsibility requirements of section 481X-4 and that details how the provider intends to meet the requirements, and proof of compliance with the requirements."

SECTION 3. Statutory material to be repealed is bracketed and stricken. New statutory material is underscored.

SECTION 4. This Act shall take effect upon its approval.

INTRODUCED BY:

_____________________________

BY REQUEST

Report Title:

Insurance; Insurance Commissioner; Forms; Vehicle Protection Product Warrantors; Service Contract Providers

Description:

Removes the requirement that a vehicle protection product warrantor and a service contract provider submit to the Insurance Commissioner a copy of each warranty or service contract form proposed for use in the State.

The summary description of legislation appearing on this page is for informational purposes only and is not legislation or evidence of legislative intent.