HI HB1262

Allows charter tour operators to deposit client funds in trust accounts at federally insured financial institutions serving as depository banks for public charter programs under 14 CFR Part 380.

Permits charter tour operators to maintain trust accounts outside Hawaii if they provide evidence no in-state financial institution can accommodate their needs.

Requires out-of-state account holders to file a notarized irrevocable authorization allowing the department to examine and obtain copies of all account records.

Requires charter tour operators with out-of-state accounts to bear all costs for record reproduction, audits, enforcement actions, and any private consultant fees the department contracts for compliance reviews.

Takes effect January 1, 2018, with a technical effective date of July 1, 2112.