Loading chat...
HI HB837
Bill
Status
1/24/2013
Primary Sponsor
Joseph Souki
Click for details
AI Summary
-
Authorizes the Commissioner of Financial Institutions to require money transmitter licensees to register with the Nationwide Mortgage Licensing System to facilitate licensing, oversight, and regulation.
-
Establishes procedures allowing licensees to voluntarily surrender their licenses.
-
Amends bond requirements and fee and penalty structures applicable to money transmitter licensees, with fee amounts to be determined.
-
Modifies reporting requirements for licensees under the Money Transmitter Act.
-
Effective date set for July 1, 2112 to allow for further legislative discussion.
Legislative Description
Money Transmitters; Fees; Bond
Last Action
Passed Second Reading as amended in HD 1 and referred to the committee(s) on FIN with Representative(s) Aquino, Cachola, Cullen, Ito, Tsuji voting aye with reservations; Representative(s) Cabanilla, Fale, McDermott, Oshiro, Tokioka voting no (5) and Representative(s) Carroll, Coffman, Hanohano, Har, Kawakami, Ward excused (6).
2/15/2013