HI SB2112

Amends the definition of "installment lender" or "lender" in Section 480J-1, Hawaii Revised Statutes to exclude persons exempt under section 480J-32.

Clarifies that lenders arranging installment loans for third parties are only considered lenders if the third party is required to be licensed under the installment loan chapter.

Removes language stating that lenders can act as agents regardless of whether the third party is exempt from licensure.

Clarifies that the law is not intended to eliminate the ability of lenders to make low interest rate loans under Hawaii's interest and usury law.

Takes effect on July 1, 3000.