2012 Hawaii Revised Statutes
TITLE 26. TRADE REGULATION AND PRACTICE
489D. Money Transmitters Act
489D-12 Renewal of license and annual report.

§489D-12 Renewal of license and annual report. (a) On or before December 31 of each year, each licensee shall pay to the commissioner an annual license fee of $2,000, plus $300 for each additional location in the State, not to exceed an aggregate fee of $15,000.

(b) The annual license fee shall be accompanied by a report, in a form prescribed by the commissioner, which shall include:

(1) A copy of the licensee's most recent audited annual financial statement, including balance sheets, statement of income or loss, statement of changes in shareholder's equity, and statement of changes in financial position or, if a licensee is a wholly owned subsidiary of another corporation, the consolidated audited annual financial statement of the parent corporation in lieu of the licensee's audited annual financial statement;

(2) For the most recent quarter for which data is available prior to the date of filing the annual report, but in no event more than one hundred twenty days prior to the renewal date, the licensee shall provide the number of payment instruments sold by the licensee in the State, the dollar amount of those instruments, and the dollar amounts of those instruments currently outstanding;

(3) Any material changes to any of the information submitted by the licensee on its original application that have not previously been reported to the commissioner on any other report required to be filed under this chapter;

(4) For the most recent quarter for which data is available prior to the date of filing the annual report, but in no event more than one hundred twenty days prior to the renewal date, a list of the licensee's permissible investments, including the total market value of each type of permissible investment, and the total dollar amount of all outstanding payment instruments issued or sold by the licensee in the United States;

(5) A list of the locations, if any, within this State where business regulated by this chapter is being conducted by either the licensee or the licensee's authorized delegates;

(6) Disclosure of any pending or final suspension, revocation, or other enforcement action by any state or governmental authority; and

(7) Any other information the commissioner may require.

(c) A licensee that has not filed an annual report that has been deemed complete by the commissioner or paid its annual license fee by the renewal filing deadline, and has not been granted an extension of time to do so by the commissioner, shall have its license suspended on the renewal date. The licensee has thirty days after its license is suspended to file an annual report and pay the annual license fee, plus a late filing fee of $100 for each business day after suspension that the commissioner does not receive the annual report and the annual license fee. The commissioner, for good cause, may grant an extension of the renewal date or reduce or suspend the $100 per day late filing fee. [L 2006, c 153, pt of §1; am L 2008, c 195, §8]