reglab/housing_qa huggingface dataset:
HI Rev Stat § 489D-3 (2021)
2021 Hawaii Revised Statutes|Title 26. Trade Regulation and Practice|489D. Money Transmitters Act|489D-3 License required.

  §489D-3 License required. (a) On or after July 1, 2007, no person except those excluded pursuant to section 489D-5, shall engage in the business of money transmission without a license as provided in this chapter.  (b) A person is engaged in providing money transmission if the person provides those services to persons in the State, even if the person providing services has no physical presence in the State.  (c) If a licensee has a physical presence in the State, the licensee may conduct its business at one or more locations, directly or indirectly owned, or through one or more authorized delegates, or both, pursuant to the single license granted to the licensee. [L 2006, c 153, pt of §1]
HI Rev Stat § 489D-5 (2021)
2021 Hawaii Revised Statutes|Title 26. Trade Regulation and Practice|489D. Money Transmitters Act|489D-5 Exclusions.

  §489D-5 Exclusions.  (a) This chapter shall not apply to:  (1) The United States or any department, agency, or instrumentality thereof;  (2) The United States Postal Service;  (3) The State or any political subdivisions thereof; and  (4) The electronic transfer of government benefits for any federal, state, or county governmental agency as defined in Consumer Financial Protection Bureau Regulation E, by a contractor for, and on behalf of the United States or any department, agency, or instrumentality thereof, or any state or any political subdivisions thereof.  (b) Authorized delegates of a licensee acting within the scope of authority conferred by a written contract under section 489D-21 shall not be required to obtain a license pursuant to this chapter. [L 2006, c 153, pt of §1; am L 2008, c 195, §4; am L 2016, c 251, §1]
HI Rev Stat § 489D-6 (2021)
2021 Hawaii Revised Statutes|Title 26. Trade Regulation and Practice|489D. Money Transmitters Act|489D-6 License qualifications.

  §489D-6 License qualifications. (a) Each licensee, at all times, shall have a net worth of not less than $1,000, calculated in accordance with generally accepted accounting principles.  (b) Each corporate applicant, at the time of filing an application, and at all times after a license is issued, shall be in good standing in the state of its incorporation. All non-corporate applicants, at the time of filing an application for a license under this chapter, and at all times after a license is issued, shall be registered or qualified to do business in the State. [L 2006, c 153, pt of §1]
HI Rev Stat § 489D-6.2 (2021)
2021 Hawaii Revised Statutes|Title 26. Trade Regulation and Practice|489D. Money Transmitters Act|489D-6.2 Registration with NMLS.

  §489D-6.2 Registration with NMLS. The commissioner may require all licensees to register with NMLS. [L 2013, c 167, pt of §1]
HI Rev Stat § 489D-8 (2021)
2021 Hawaii Revised Statutes|Title 26. Trade Regulation and Practice|489D. Money Transmitters Act|489D-8 Permissible investments and statutory trust.

 §489D-8 Permissible investments and statutory trust. (a) A licensee, at all times, shall possess permissible investments having an aggregate market value, calculated in accordance with generally accepted accounting principles, of not less than the aggregate amount of all outstanding payment obligations. This requirement may be waived by the commissioner if the dollar volume of a licensee's outstanding payment obligations does not exceed the bond or other security devices posted by the licensee pursuant to section 489D-7.  (b) Permissible investments, even if commingled with other assets of the licensee, shall be held in trust for the benefit of the purchasers and holders of the licensee's outstanding payment obligations in the event of the bankruptcy of the licensee. [L 2006, c 153, pt of §1; am L 2017, c 45, §2]
HI Rev Stat § 489D-9.5 (2021)
2021 Hawaii Revised Statutes|Title 26. Trade Regulation and Practice|489D. Money Transmitters Act|489D-9.5 Limited exemption for financial institutions; financial institutions as authorized delegates.

 §489D-9.5 Limited exemption for financial institutions; financial institutions as authorized delegates. (a) Banks, bank holding companies, credit unions, savings banks, financial services loan companies, and mutual banks organized under the laws of the United States or any state shall be exempt from the licensing and examination provisions of this chapter.  (b) An applicant or licensee may appoint an entity described in subsection (a) as an authorized delegate.  (c) When submitting an application for a license pursuant to section 489D-9, or when submitting an annual report pursuant to section 489D-12, an applicant or licensee that appoints an entity described in subsection (a) as an authorized delegate shall include that entity's name and the locations in this State where that entity will conduct its authorized delegate activities. [L 2008, c 195, pt of §1; am L 2013, c 167, §5]
HI Rev Stat § 489D-10 (2021)
2021 Hawaii Revised Statutes|Title 26. Trade Regulation and Practice|489D. Money Transmitters Act|489D-10 Application and license fees

  §489D-10 Application and license fees. (a) Each application shall be accompanied by:  (1) A nonrefundable application fee in the amount of $5,000; and  (2) An initial annual license fee of $5,000.  (b) The license fee shall be refunded if the application is denied. [L 2006, c 153, pt of §1; am L 2008, c 195, §6; am L 2013, c 167, §6]
HI Rev Stat § 489D-11 (2021)
2021 Hawaii Revised Statutes|Title 26. Trade Regulation and Practice|489D. Money Transmitters Act|489D-11 Issuance of license; grounds for denial.

  §489D-11 Issuance of license; grounds for denial. (a) Upon the filing of a complete application, the commissioner shall investigate the financial condition and responsibility, financial and business experience, character, and general fitness of the applicant. The commissioner may conduct an on-site investigation of the applicant, the reasonable cost of which shall be borne by the applicant.  (b) If the commissioner finds that:  (1) The applicant's business will be conducted honestly, fairly, and in a manner commanding the confidence and trust of the community;  (2) The applicant has fulfilled the requirements imposed by this chapter; and   (3) The applicant has paid the required license fee, the commissioner shall issue a license to the applicant authorizing the applicant to engage in the licensed activities in the State for a term expiring on December 31 of the calendar year in which the license is issued.  (c) If the commissioner is not satisfied that the applicant meets all the criteria set forth for approval, the commissioner shall issue a written decision denying the application.  (d) Any applicant aggrieved by a denial issued by the commissioner under this chapter may submit a request for a contested case hearing in accordance with chapter 91. [L 2006, c 153, pt of §1; am L 2008, c 195, §7]
HI Rev Stat § 489D-12.5 (2021)
2021 Hawaii Revised Statutes|Title 26. Trade Regulation and Practice|489D. Money Transmitters Act|489D-12.5 Penalties and other charges.

  §489D-12.5 Penalties and other charges. Administrative penalties and other charges assessed under this chapter shall be deposited into the compliance resolution fund established pursuant to section 26-9(o). [L 2008, c 195, pt of §1; am L 2013, c 167, §8]
HI Rev Stat § 489D-13 (2021)
2021 Hawaii Revised Statutes|Title 26. Trade Regulation and Practice|489D. Money Transmitters Act|489D-13 Licensee liability.

  §489D-13 Licensee liability. A licensee's responsibility to any person for a money transmission conducted on that person's behalf by the licensee or the licensee's authorized delegate shall be limited to the amount of money transmitted, the face amount, or the purchase amount of the payment instrument. [L 2006, c 153, pt of §1]
HI Rev Stat § 489D-14 (2021)
2021 Hawaii Revised Statutes|Title 26. Trade Regulation and Practice|489D. Money Transmitters Act|489D-14 Extraordinary reporting requirements.

  §489D-14 Extraordinary reporting requirements. Within fifteen business days of the occurrence of any one of the events listed below, a licensee shall file a written report with the commissioner describing the event and its expected impact on the licensee's activities in this State. These events are:  (1) Any material change in information provided in a licensee's application or annual report;  (2) The filing for bankruptcy or reorganization by the licensee;  (3) Pending or final revocation, suspension, or other enforcement action against the licensee by any state or governmental authority relating to the licensee's money transmission activities;  (4) Any felony indictment of the licensee or any of its principals related to money transmission activities; and  (5) Any felony conviction of the licensee or any of its principals related to money transmission activities. [L 2006, c 153, pt of §1; am L 2008, c 195, §9; am L 2017, c 45, §5]
HI Rev Stat § 489D-14.5 (2021)
2021 Hawaii Revised Statutes|Title 26. Trade Regulation and Practice|489D. Money Transmitters Act|489D-14.5 Name change.

  §489D-14.5 Name change. To change its name, its fictitious name, or its trade name, a licensee shall file an application with the commissioner and pay a nonrefundable fee of $1,000 or a greater amount as the commissioner shall establish by rule pursuant to chapter 91. The application shall be approved if the commissioner is satisfied that the new name complies with all applicable laws. Any change of name shall not affect a licensee's rights, liabilities, or obligations existing prior to the effective date thereof, and no documents of transfer shall be necessary to preserve such rights, liabilities, or obligations; provided that the commissioner may require notice to be given to the public and other governmental agencies. [L 2008, c 195, pt of §1; am L 2013, c 167, §9]
HI Rev Stat § 489D-16 (2021)
2021 Hawaii Revised Statutes|Title 26. Trade Regulation and Practice|489D. Money Transmitters Act|489D-16 Money laundering reports.

  §489D-16 Money laundering reports. (a) Every licensee and its authorized delegates shall file with the commissioner all reports relating to transactions in the State, as required by federal recordkeeping and reporting requirements in title 31 United States Code section 5311 et seq., 31 Code of Federal Regulations part 1022, section 1022.210, and other federal and state laws pertaining to money laundering.  (b) The timely filing of a complete and accurate report with the appropriate federal agency shall satisfy the requirements of subsection (a), unless the commissioner notifies the licensee that reports of this type are not being regularly and comprehensively transmitted by the federal agency. [L 2006, c 153, pt of §1; am L 2013, c 167, §11]
HI Rev Stat § 489D-18 (2021)
2021 Hawaii Revised Statutes|Title 26. Trade Regulation and Practice|489D. Money Transmitters Act|489D-18 Maintenance of records.

  §489D-18 Maintenance of records. (a) Each licensee shall make, keep, preserve, and make available for inspection by the commissioner the following books, accounts, and other records for a period of three years:  (1) A record or records of each payment instrument;  (2) A general ledger containing all assets, liability, capital, income, and expense accounts that shall be posted at least monthly;  (3) Bank statements and bank reconciliation records;  (4) Records of all outstanding payment obligations;  (5) Records of each payment instrument paid within the three-year period;  (6) A list of the names and addresses of all of the licensee's authorized delegates; and  (7) Any other records the commissioner reasonably requires by rule adopted pursuant to chapter 91.  (b) Maintenance of documents in a photographic, electronic, or other similar form shall comply with this section.  (c) Records may be maintained at a location outside the State; provided that these records are made accessible to the commissioner within seven business days of receipt of a written notice issued by the commissioner. [L 2006, c 153, pt of §1; am L 2017, c 45, §7]
HI Rev Stat § 489D-21 (2021)
2021 Hawaii Revised Statutes|Title 26. Trade Regulation and Practice|489D. Money Transmitters Act|489D-21 Authorized delegate contracts.

  §489D-21 Authorized delegate contracts. Licensees desiring to conduct licensed activities through authorized delegates shall authorize each delegate to operate pursuant to an express written contract. These contracts shall provide the following:  (1) That the licensee appoints the person as the licensee's delegate with authority to engage in money transmission on behalf of the licensee;  (2) That neither a licensee nor an authorized delegate may authorize subdelegates without the written consent of the commissioner;  (3) That the licensee is subject to supervision and rule by the commissioner; and  (4) That the authorized delegate certifies that it is in compliance with the recordkeeping and reporting requirements under title 31 United States Code section 5311 et seq., 31 Code of Federal Regulations part 1022, section 1022.210, and other federal and state laws pertaining to money laundering. [L 2006, c 153, pt of §1; am L 2013, c 167, §13]
HI Rev Stat § 489D-22 (2021)
2021 Hawaii Revised Statutes|Title 26. Trade Regulation and Practice|489D. Money Transmitters Act|489D-22 Authorized delegate; conduct.

  §489D-22 Authorized delegate; conduct. (a) An authorized delegate of a licensee shall not make any fraudulent or false statement or misrepresentation to a licensee or to the commissioner.  (b) All money transmissions, sales, or issuances of payment instruments conducted by authorized delegates shall be in accordance with the licensee's written procedures provided to the authorized delegate and shall comply with all applicable federal and state laws, rules, and regulations.  (c) An authorized delegate shall remit all money owing to the licensee in accordance with the terms of the contract between the licensee and the authorized delegate. The commissioner shall have the discretion to set, by rule, adopted pursuant to chapter 91, the maximum remittance time.  (d) An authorized delegate is deemed to consent to the commissioner's inspection, with or without prior notice to the licensee or authorized delegate, of the books and records of the authorized delegate when the commissioner has a reasonable basis to believe that the licensee or delegate is not in compliance with this chapter.  (e) An authorized delegate is under a duty to act only as authorized under the contract with the licensee. An authorized delegate that exceeds its authority is subject to cancellation of the delegate's contract and further disciplinary action by the commissioner.  (f) All funds, except fees, received by an authorized delegate from the sale or delivery of a payment instrument issued by a licensee or received by the delegate for transmission, from the time the funds are received by the delegate until the time when the funds or an equivalent amount are remitted by the delegate to the licensee, shall constitute trust funds owned by and belonging to the licensee. If an authorized delegate commingles any trust funds with any other funds or property owned or controlled by the delegate, all commingled funds and other property of the delegate shall be impressed with a trust in favor of the licensee in an amount equal to the amount of the proceeds due to the licensee.  (g) An authorized delegate shall report to the licensee the theft or loss of payment instruments within twenty-four hours from the time the delegate knew or should have known of the theft or loss. [L 2006, c 153, pt of §1; am L 2008, c 195, §13]
HI Rev Stat § 489D-22.5 (2021)
2021 Hawaii Revised Statutes|Title 26. Trade Regulation and Practice|489D. Money Transmitters Act|489D-22.5 Voluntary surrender of license.

 §489D-22.5 Voluntary surrender of license. (a) A licensee may voluntarily cease business and surrender its license by giving written notice to the commissioner of its intent to surrender its license. Prior to the surrender date of a license, the licensee shall have either completed all pending money transmissions or assigned each to another licensee.  (b) Notice pursuant to this section shall be provided at least thirty days before the surrender of the license and shall include:  (1) The date of surrender;  (2) The name, address, telephone number, facsimile number, and electronic address of a contact individual with knowledge and authority sufficient to communicate with the commissioner regarding all matters relating to the licensee during the period that it was licensed pursuant to this chapter;  (3) The reason or reasons for surrender;  (4) Total dollar amount of the licensee's outstanding payment obligations sold in Hawaii and the individual amounts of each outstanding payment obligation, and the name, address, and contact phone number of the licensee to which each outstanding payment obligation was assigned;  (5) A list of the licensee's Hawaii authorized delegates, if any, as of the date of surrender; and  (6) Confirmation that the licensee has notified each of its Hawaii authorized delegates, if any, that they may no longer conduct money transmissions on the licensee's behalf.  Voluntary surrender of a license shall be effective upon the date of surrender specified on the written notice to the commissioner as required by this section; provided that the licensee has met all the requirements of voluntary surrender and has returned the original license issued. [L 2013, c 167, pt of §1; am L 2017, c 45, §8]
HI Rev Stat § 489D-23 (2021)
2021 Hawaii Revised Statutes|Title 26. Trade Regulation and Practice|489D. Money Transmitters Act|489D-23 Prohibited practices.

  §489D-23 Prohibited practices. It is a violation of this chapter for a licensee to:  (1) Directly or indirectly employ any scheme, device, or artifice to defraud or mislead any person, including, but not limited to, bait and switch advertising or sales practices;  (2) Directly or indirectly engage in any unfair or deceptive act or practice toward any person, including but not limited to any false or deceptive statement about fees or other terms of a money transmission or currency exchange;  (3) Directly or indirectly obtain property by fraud or misrepresentation;  (4) Knowingly make, publish, or disseminate any false, deceptive, or misleading information in the provision of money services;  (5) Knowingly receive or take possession for personal use any property of any money services business, other than in payment for services rendered, and with intent to defraud, and omit to make, or cause or direct to omit to make, a full and true entry in the books and accounts of the regulated business;  (6) Concur in making any false entry, or omit or concur in omitting any material entry in the books or accounts of the business;  (7) Knowingly make or publish to the commissioner or commissioner's designee, or concur in making or publishing to the commissioner or commissioner's designee, any written report, exhibit, or statement of the licensee's affairs or pecuniary condition containing any material statement that is false, or omit or concur in omitting any statement required by law to be contained therein; or  (8) Fail to make any report or statement lawfully required by the commissioner. [L 2006, c 153, pt of §1]
HI Rev Stat § 489D-24 (2021)
2021 Hawaii Revised Statutes|Title 26. Trade Regulation and Practice|489D. Money Transmitters Act|489D-24 Suspension or revocation of licenses.

  §489D-24 Suspension or revocation of licenses. The commissioner may suspend or revoke a license if the commissioner finds that:  (1) Any fact or condition exists that, if it had existed at the time when the licensee applied for its license, would have been grounds for denying the licensee's application;  (2) The licensee's net worth becomes inadequate and the licensee, after ten days written notice from the commissioner, fails to take steps as the commissioner deems necessary to remedy a deficiency;  (3) The licensee knowingly violates any material provision of this chapter or any rule or order validly adopted by the commissioner under authority of this chapter;  (4) The licensee is conducting its business in an unsafe or unsound manner;  (5) The licensee is insolvent;  (6) The licensee has suspended payment of its obligations, has made an assignment for the benefit of its creditors, or has admitted, in writing, its inability to pay its debts as they become due;  (7) The licensee has filed for bankruptcy, reorganization, arrangement, or other relief under any bankruptcy law;  (8) The licensee refuses to permit the commissioner to make any examination authorized by this chapter; or  (9) The competence, experience, character, or general fitness of the licensee indicates that it is not in the public interest to allow the licensee to have a license. [L 2006, c 153, pt of §1]
HI Rev Stat § 489D-25 (2021)
2021 Hawaii Revised Statutes|Title 26. Trade Regulation and Practice|489D. Money Transmitters Act|489D-25 Suspension or revocation of authorized delegates.

  §489D-25 Suspension or revocation of authorized delegates. (a) The commissioner may issue an order suspending or revoking the designation of an authorized delegate, if the commissioner finds that:  (1) The authorized delegate violates this chapter or a rule adopted or an order issued under this chapter;  (2) The authorized delegate does not cooperate with an examination or investigation by the commissioner;  (3) The authorized delegate engages in fraud, intentional misrepresentation, or gross negligence;  (4) The authorized delegate is convicted of a violation of a federal or state anti-money laundering statute;  (5) The competence, experience, character, or general fitness of the authorized delegate or a person in control of the delegate indicates that it is not in the public interest to permit the delegate to provide money services; or  (6) The authorized delegate is engaging in an unsafe or unsound practice.  (b) In determining whether an authorized delegate is engaging in an unsafe or unsound practice, the commissioner may consider the size and condition of the delegate's provision of money services, the magnitude of the loss, the gravity of the violation of this chapter, and the previous conduct of the delegate.  (c) An authorized delegate may apply for relief from a suspension or revocation of designation as an authorized delegate according to procedures prescribed by the commissioner. [L 2006, c 153, pt of §1]