HI SB1130

Adds definition of "ownership interest" to include any ownership stake in an entity and associated economic rights such as distributions, net cash flow, or net income.

Makes activity desk principals and all persons with ownership interests jointly and severally liable for financial deficiencies when the activity desk's client trust account lacks sufficient funds to pay consumers or activity providers.

Expands liability for statutory violations to include the activity desk principal and all ownership interest holders, making them liable alongside the activity desk for damages resulting from violations of chapter 468M.

Establishes minimum damages of $1,000 per violation, with maximum damages capped at $10,000 for first-time violations, calculated based on days and locations of violations or days with insufficient client trust account funds.

Effective date: July 1, 2050.