HRS §480J-31
License needed to make installment loans
You must have a license from the state commissioner to work as an installment lender in Hawaii, unless you are exempt. If you make a loan without a license, the loan is void and you cannot collect any money from it.
The statute, as written — License required
(a) No person, except those exempt under this chapter, shall act as an installment lender in this State unless licensed to do so by the commissioner. (b) Any loan made in violation of this section is void, and no person shall have the right to collect, receive, or retain any principal, interest, fees, or other charges in connection with the loan.
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