Hawaii § 386-206 - Premium payment; reserves.
Full text of Hawaii Hawaii Revised Statutes § 386-206 — Premium payment; reserves., with citation guidance and answers to common questions.
§ 386-206. Premium payment; reserves.
(a) Each group shall establish to the satisfaction of the insurance commissioner a premium payment plan which shall include an initial payment by each member of at least twenty-five per cent of that member's annual premium before the start of the group's fund year and payment of the balance of each member's annual premium in monthly or quarterly installments. (b) Each group shall establish and maintain actuarially appropriate loss reserves, which shall include reserves for known claims and expenses associated therewith and claims incurred but not reported and expenses associated therewith. (c) Each group shall establish and maintain bad debt reserves based on the historical experience of the group or other groups. [L 1986, c 304, pt of §1] Previous Vol07_Ch0346-0398 Next
Frequently Asked Questions About Hawaii § 386-206
What does Hawaii Revised Statutes § 386-206 cover?
Section 386-206 ("Premium payment; reserves.") is part of the Hawaii Revised Statutes, the codified statutory law of Hawaii. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Hawaii § 386-206?
A common citation format is "Hawaii Revised Statutes § 386-206" (Hawaii). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Hawaii law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Hawaii official source linked on this page or consult a licensed Hawaii attorney.
How does Hawaii § 386-206 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Hawaii can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Hawaii.