Hawaii Revised Statutes 386a. Hawaii State Compensation Mutual Insurance Fund

• 386a-1 Definitions.
  As used in this chapter: "Board" means the fund's board of directors. "Fund" means the Hawaii state compensation mutual insurance fund. [L 1985, c 296,...
• 386a-2 Fund's Establishment.
  (a) There is established a workers' compensation state insurance fund to be known as the "Hawaii state compensation mutual insurance fund". (b) The fund...
• 386a-3 Fund's Purpose.
  The fund's purpose is to sell workers' compensation insurance at the lowest actuarially responsible price as determined by the fund's board. The fund shall...
• 386a-4 Number, Appointment, Term.
  (a) The board shall be composed of five directors, whose term of office shall be five years, and each director shall hold office until...
• 386a-5 Board Meetings.
  (a) The board's quorum to transact business shall consist of at least three directors. Unless a quorum is present, no business shall be transacted....
• 386a-6 Limitation of Liability of Directors.
  If an investment manager has been appointed under this chapter, no director shall be liable for the acts or omissions of such investment manager...
• 386a-7 Liability and Rights of Parties and Third Persons.
  (a) Neither the State nor any policyholder nor any director or employee of the fund shall be liable to make any payments to the...
• 386a-8 Termination and Merger.
  (a) The fund may be terminated only by law. (b) Any assets remaining in the fund after the termination of the fund and any...
• 386a-9 Governing Law.
  The interpretation of this chapter shall be governed by the laws of Hawaii. [L 1985, c 296, pt of §11]
• 386a-10 Administrator's Appointment and Duties.
  The board shall appoint and may remove the fund's administrator and fix the administrator's salary. The administrator shall manage and conduct the fund's business...
• 386a-11 Exemptions.
  The fund shall be exempt from the application of title 7, title 8, and title 9, in conducting the fund's business. [L 1985, c...
• 386a-12 State Fund Operational.
  The Hawaii state compensation mutual insurance fund shall become operational upon funding by special appropriation by the legislature. [L 1985, c 296, pt of...
• 386a-13 Insurance Code Applicable.
  The Hawaii state compensation mutual insurance fund shall be subject to the provisions of chapter 431 to the same extent and degree as any...

Last modified: October 27, 2016