HI-Pending Exchange Legislation
On July 8, Governor Neil Abercrombie signed legislation (S.B. 1348) establishing an exchange structured as a private, nonprofit entity. The legislation creates a 15-member board of directors appointed by the governor, an interim board to recommend policies and procedures to implement the governance of the exchange, and appropriates federal funds to support the operations of the interim board. State legislation will permit but not require insurers and/or brokers to serve on the board.
The legislation .
