Hawaii § 386-208 - Guaranty mechanism.
Full text of Hawaii Hawaii Revised Statutes § 386-208 — Guaranty mechanism., with citation guidance and answers to common questions.
§ 386-208. Guaranty mechanism.
In the event of a liquidation pursuant to section 386-207, after exhausting the security required pursuant to section 386-194(b)(2), the insurance commissioner shall levy an assessment against all groups to assure prompt payment of benefits. The assessment on each group shall be based on the proportion that the premium of each group bears to the total premium of all groups. The insurance commissioner may exempt a group from assessment upon finding that the payment of the assessment would render the group insolvent. The assessment shall not relieve any member of an insolvent group of its joint and several liability. After any assessment is made, the insurance commissioner shall take action to enforce the joint and several liability provisions of the insolvent group's indemnity agreement and shall recoup: (1) All costs incurred by the insurance commissioner in enforcing the joint and several liability; (2) Amounts that the insurance commissioner assessed any other groups pursuant to this section; and (3) Any obligation included within section 386-207(f). [L 1986, c 304, pt of §1] Previous Vol07_Ch0346-0398 Next
Frequently Asked Questions About Hawaii § 386-208
What does Hawaii Revised Statutes § 386-208 cover?
Section 386-208 ("Guaranty mechanism.") 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 § 386-208?
A common citation format is "Hawaii Revised Statutes § 386-208" (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 § 386-208 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.