Establishes the Hawaii condominium mutual insurance company to provide property and casualty insurance for high-rise residential condominiums.
The bill establishes the Hawaii condominium mutual insurance company to provide property and casualty insurance coverage to high-rise residential condominiums and their unit owners. It appropriates funds for the company's operations and sets up an oversight council to ensure the company fulfills its purpose. The company is tasked with developing building safety and management programs, analyzing accident reports, and promoting safety programs. The council reviews the company's activities and submits reports to the governor.
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