Hawaii Administrative Rules
Title 16 - DEPARTMENT OF COMMERCE AND CONSUMER AFFAIRS
Chapter 14 - INSURANCE HOLDING COMPANY SYSTEM
Section 16-14-7 - Disclaimers and termination of registration
Universal Citation: HI Admin Rules 16-14-7
Current through August, 2024
(a) A disclaimer of affiliation or a request for termination of registration may be made when a person does not, or will not upon the taking of some proposed action, control another person (hereinafter referred to as "the subject"). The disclaimer shall contain the following information:
(1) The
number of authorized, issued, and outstanding voting securities of the
subject;
(2) The number and
percentage of shares of the subject's voting securities which the person whose
control is disclaimed, and all affiliates of that person, hold of record, own
beneficially, or have a right to acquire, directly or indirectly;
(3) All material relationships and bases for
affiliation between the subject and the person whose control is disclaimed and
all affiliates of that person; and
(4) A statement explaining why the person
whose control is disclaimed does not control the subject.
(b) A request for termination of registration shall be deemed granted unless the commissioner notifies the registrant otherwise within thirty days after receipt of the request.
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