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Measure Title: RELATING TO MONEY TRANSMITTERS MODERNIZATION ACT.
Report Title: Money Transmitter; Money Transmission; Permissible Investments; Tangible Net Worth; Division of Financial Institutions
Description: Aligns Hawaii's money transmitters law with the provisions of the Model Money Transmitters Modernization Act, thereby enabling Hawaii to work within a network of states to license, supervise, and examine transglobal money transmission companies as a multi-state system. Enables timely, coordinated, and efficient regulation of money transmission companies to achieve financial stability and economic growth, while providing consumer protection. Allows the State to share resources, data, and technology tools with other states to create a stronger multi-state system of financial regulation. Effective 7/1/2050. (SD1)
Companion:  HB1027
Package: Governor
Current Referral: ECD, CPC
Introducer(s): KOUCHI (Introduced by request of another party)
Act:

Sort by Date Status Text
12/11/2023DCarried over to 2024 Regular Session.
3/9/2023HReferred to ECD, CPC, referral sheet 17
3/9/2023HPass First Reading
3/7/2023HReceived from Senate (Sen. Com. No. 413) in amended form (SD 1).
3/7/2023SPassed Third Reading, as amended (SD 1). Ayes, 23; Aye(s) with reservations: none. Noes, 1 (Senator(s) Awa). Excused, 1 (Senator(s) Fukunaga). Transmitted to House.
3/3/2023S48 Hrs. Notice 03-07-23.
3/3/2023SReport adopted; Passed Second Reading, as amended (SD 1).
3/3/2023SReported from CPN (Stand. Com. Rep. No. 818) with recommendation of passage on Second Reading, as amended (SD 1) and placement on the calendar for Third Reading.
2/21/2023SThe committee(s) on CPN recommend(s) that the measure be PASSED, WITH AMENDMENTS. The votes in CPN were as follows: 3 Aye(s): Senator(s) Keohokalole, Fukunaga, Richards; Aye(s) with reservations: none ; 1 No(es): Senator(s) Awa; and 1 Excused: Senator(s) McKelvey.
2/17/2023SThe committee(s) on CPN has scheduled a public hearing on 02-21-23 9:30AM; Conference Room 229 & Videoconference.
1/30/2023SReferred to CPN.
1/25/2023SPassed First Reading.
1/25/2023SIntroduced.

S = Senate | H = House | D = Data Systems | $ = Appropriation measure | ConAm = Constitutional Amendment

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SB1325 SD1
All Versions of this Measure
SB1325_SD1 Pdf File
SB1325 Pdf File
Committee Reports
SB1325_SD1_SSCR818_ Pdf File
Testimony
SB1325_TESTIMONY_CPN_02-21-23_
SB1325_TESTIMONY_CPN_02-22-23_
Hearing Notices
CPN
2/21/23 9:30A
CR 229 & Videoconference