Section 16-23-68 - Membership in JUP(a) Each insurer shall be a member of the JUP. As a condition of licensure it shall: (1) Maintain its membership at a minimum fee of $1,000 per year or part thereof; and(2) Accept appointment as a servicing carrier if the commissioner finds it necessary in the public interest and that the insurer is capable of performing as a servicing carrier. This section shall not apply to those insurers writing motor vehicle insurance exclusively under section 431:10C-106, HRS.
(b) The commissioner shall notify the insurer of its membership in the JUP at least thirty days before the extension date of the insurer's membership. If the fee is not paid on or before the extension date, the fee shall be increased by a penalty in the amount of fifty per cent of the fee. If the fee and the penalty are not paid within thirty days after the extension date, the commissioner may revoke the insurer's certificate of authority and reissue the certificate of authority when the penalty and the fee have been paid. [Eff 9/1/80; am and comp 9/1/82; am and comp 9/1/85; am 9/1/87; am and comp 9/1/88; comp 9/15/89; am and comp 9/1/90; am and comp 6/1/93; am and comp 1/1/98; comp 1/8/99; comp 11/11/12] (Auth: HRS §§ 431:10C-214, 431:10C-406) (Imp: HRS §§ 431:10C-401 through 431:10C-404)