HI SB1325

Aligns Hawaii's money transmitter regulations with the Model Money Transmitters Modernization Act to enable multi-state licensing and supervision of money transmission companies.

Adds three new definitions: "money" (authorized or adopted by U.S. or foreign government), "receiving money for transmission" (receiving money in Hawaii for transmission), and "tangible net worth" (aggregate assets excluding intangibles, less liabilities).

Increases net worth requirements from $1,000 minimum to the greater of $100,000 or a tiered percentage of tangible assets (3% for first $100M, 2% for $100M-$1B, 0.5% for over $1B).

Increases bond or security device requirement from $10,000 to $100,000 for initial 12 months of licensure, with maximum increase to $500,000 based on licensee's financial condition.

Adds nine new exemptions from licensing requirements including payment system operators, agents collecting payments for goods/services, securities brokers, commodity merchants, and employees acting within scope of employment.