Bill Text: HI HB670 | 2013 | Regular Session | Introduced
Bill Title: Check Cashers; Registration
Spectrum: Partisan Bill (Democrat 1-0)
Status: (Introduced - Dead) 2013-02-11 - The committee(s) on CPC recommend(s) that the measure be deferred. [HB670 Detail]
Download: Hawaii-2013-HB670-Introduced.html
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HOUSE OF REPRESENTATIVES |
H.B. NO. |
670 |
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TWENTY-SEVENTH LEGISLATURE, 2013 |
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STATE OF HAWAII |
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A BILL FOR AN ACT
relating to check cashing.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF HAWAII:
SECTION 1. Chapter 480F, Hawaii Revised Statutes, is amended by adding two new sections to be appropriately designated and to read as follows:
"§480F- Registration required; fees; renewals; voluntary surrender of registration. (a) No person other than a person exempt under section 480F-5 shall engage in the business of check cashing without a registration issued by the commissioner.
(b) An applicant for registration shall file an application on a form prescribed by the commissioner and shall pay an application fee of $500. Registrations shall expire on June 30 of each calendar year. A registration may be renewed by filing a renewal statement on a form prescribed by the commissioner and paying a renewal fee of $250, on or before July 1, for licensure for the following year.
(c) The applicant shall submit all information that the commissioner may require, including the applicant's:
(1) Form and place of organization;
(2) Tax identification number; and
(3) Proposed method of doing business.
The applicant shall disclose whether the applicant or any of its officers, directors, employees, managers, agents, partners, or members have ever been issued or been the subject of an injunction or administrative order pertaining to any aspect of the lending business, have ever been convicted of a misdemeanor involving the lending industry or any aspect of the lending business, or have ever been convicted of any felony.
(d) A check casher registered under this chapter may voluntarily cease business and surrender its registration by giving written notice to the commissioner of its intent to surrender its registration. Notice pursuant to this subsection shall be given at least thirty days before the surrender of the registration and shall include:
(1) The date of surrender;
(2) The name, address, telephone number, facsimile number, and electronic address of a contact individual with knowledge and authority sufficient to communicate with the commissioner regarding all matters relating to the registrant during the period that it was registered pursuant to this chapter;
(3) The reason or reasons for surrender; and
(4) The original registration issued pursuant to this chapter to the check casher.
Voluntary surrender of a registration shall be effective upon the date of surrender specified on the written notice to the commissioner as required by this subsection.
§480F- Registration sanctions; suspension, revocation, denial, condition, and refusal to renew, reinstate, or restore. In addition to any other actions authorized by law, the commissioner may suspend, revoke, deny, condition in any manner, or refuse to renew, reinstate, or restore, any registration issued under this chapter, or fine any person holding a registration issued under this chapter, for any violation of this chapter. All orders made under this section shall be made pursuant to chapter 91."
SECTION 2. Section 480F-1, Hawaii Revised Statutes, is amended by adding a new definition to be appropriately inserted and to read as follows:
""Commissioner" means the commissioner of financial institutions."
SECTION 3. New statutory material is underscored.
SECTION 4. This Act shall take effect upon its approval.
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INTRODUCED BY: |
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Report Title:
Check Cashers; Registration
Description:
Prohibits persons from engaging in the business of check cashing without a registration issued by the commissioner of financial institutions.
The summary description of legislation appearing on this page is for informational purposes only and is not legislation or evidence of legislative intent.
