STAND. COM. REP. NO.  1191

 

Honolulu, Hawaii

                , 2015

 

RE:   S.B. No. 1265

 

 

 

 

Honorable Joseph M. Souki

Speaker, House of Representatives

Twenty-Eighth State Legislature

Regular Session of 2015

State of Hawaii

 

Sir:

 

     Your Committee on Consumer Protection & Commerce, to which was referred S.B. No. 1265 entitled:

 

"A BILL FOR AN ACT RELATING TO THE INSURANCE HOLDING COMPANY SYSTEM,"

 

begs leave to report as follows:

 

     The purpose of this measure is to make technical amendments to the Insurance Code relating to the regulation of insurance holding company systems.

 

     Your Committee received written testimony in support of this measure from the Department of Commerce and Consumer Affairs.

 

     Your Committee finds that the technical amendments made in this measure are necessary to clarify provisions of article 11 of the Insurance Code, relating to the regulation of insurance holding company systems.

 

     As affirmed by the record of votes of the members of your Committee on Consumer Protection & Commerce that is attached to this report, your Committee is in accord with the intent and purpose of S.B. No. 1265 and recommends that it pass Second Reading and be referred to the Committee on Judiciary.

 

Respectfully submitted on behalf of the members of the Committee on Consumer Protection & Commerce,

 

 

 

 

____________________________

ANGUS L.K. McKELVEY, Chair