SB2044 amends dormant captive insurance company regulations in Hawaii.
SB2044 modifies Hawaii Revised Statutes to update rules for dormant captive insurance companies. It prohibits such companies from conducting insurance business, paying certain taxes, and being liable for tax payments. The bill also mandates that these companies file annual financial statements and hold at least one annual meeting in the state. This Act will take effect on July 1, 2026.
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