Relating to Money Transmitters Modernization Act.
This bill did not become law and its session has ended, so it can no longer move. It would have to be reintroduced.
- Stage
- Session ended
- Started in
- Senate
- Sponsor
- 1
- Latest action
- Jan 26, 2024
What it does
Continues the alignment of Hawaiʻi's money transmitters law with the provisions of the Model Money Transmitters Modernization Act, thereby enabling Hawaiʻi to work within a network of states to license, supervise, and examine transglobal money transmission companies as a multistate system; using nationwide standards, provides clarity and consistency of the tangible net worth provision; ensures that licensees have sufficient financial resources to conduct their business in a safe and sound manner; ensures efficiency throughout the licensing process; and protects the interests of money transmission companies, their customers, and the public.
Where it stands
This bill did not become law and its session has ended, so it can no longer move. It would have to be reintroduced.
Introduced (Done)
Committee (Current step)
Floor (Needs attention)
Law (Not started)
What moved
Who is involved
Sponsors
The lawmakers who put their names on it, lead sponsors first.
In the news
Reporting that may mention this subject. Possible matches are labeled.
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Where it goes next
While a bill can still move, the questions are about people and money in Hawaii.