Haw. Code R. § 16-14-5 - Statement for acquisition of control and preacquisition notification
(a) A person required to file a statement
pursuant to section
431:11-104,
HRS, shall furnish the required information utilizing Form A and the required
information on Form E described in subsections (e), (f), and (g).
(b) The person filing the statement required
by section
431:11-104,
HRS, shall promptly advise the commissioner of any changes in the information
furnished on Form A arising after the date upon which the information was
furnished but before the commissioner's disposition of the application for
approval.
(c) If the person being
acquired is a "domestic insurer" as defined by section
431:11-104(a)(4),
HRS, the name of the domestic insurer on the cover page should be indicated as
follows: "ABC Insurance Company, a subsidiary of XYZ Holding
Company."
(d) Where a domestic
insurer is being acquired, references to "the insurer" contained in Form A
shall refer to both the domestic insurer and its subsidiaries.
(e) If a domestic insurer, including any
person controlling a domestic insurer, is proposing a merger or acquisition
pursuant to section
431:11-104(a)(1),
HRS, that person shall file a preacquisition notification form, Form
E.
(f) If a non-domiciliary insurer
licensed to do business in this State is proposing a merger or acquisition
pursuant to section
431:11-104.2, HRS, that
person shall file a preacquisition notification form, Form E. No preacquisition
notification form need be filed if the acquisition is beyond the scope of
section
431:11-104.2, HRS, as set
forth in section
431:11-104.2(b),
HRS.
(g) In addition to the
information required by Form E, the commissioner may require an expert opinion
as to the competitive impact of the proposed acquisition.
Notes
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