Revocation of certificate of approval
HRS §386-211
in effect386-211. Revocation of certificate of approval
(a) After notice and opportunity for a hearing, the insurance commissioner may revoke a group's certificate of approval if the group:
(1) Is found to be insolvent;
(2) Fails to pay any premium tax, regulatory fee or
assessment, or special compensation fund assessments imposed upon it; or
(3) Fails to comply with any provision of this
chapter or any rule adopted under this chapter or with any lawful order of the
insurance commissioner within the time prescribed.
(b) In addition, the insurance commissioner
may revoke a group's certificate of approval if, after notice and opportunity
for hearing, the insurance commissioner finds that:
(1) Any certificate of approval that was issued to
the group was obtained by fraud;
(2) There was a material misrepresentation in the
application for the certificate of approval; or
(3) The group or its administrator has
misappropriated, converted, illegally withheld, or refused to pay over upon
proper demand any moneys that belong to a member, an employee of a member, or a
person otherwise entitled thereto and that have been entrusted to the group or
its administrator in its fiduciary capacities.
[L 1986, c 304, pt of §1]
Source: Hawaii State Legislature (capitol.hawaii.gov), via Internet Archive capturesURL: http://www.capitol.hawaii.gov/hrscurrent/Vol07_Ch0346-0398/HRS0386/HRS_0386-0211.htmFetched: 11/10/2026