HRS §480J-9
How loan money is paid and how to redeem a check
This section explains the ways an installment lender can give you your loan money, such as by check, card, or cash. It also says the lender must put its real business name on any check before cashing it. You can get back any check the lender holds by paying the full amount.
borrowers
The statute, as written — Form of loan proceeds; endorsement of instrument; redemption of instrument
(a) An installment lender may pay the proceeds from or otherwise fund an installment loan to the consumer in the form of a monetary instrument, prepaid debit card, Automated Clearing House transfer, electronic check, other form of electronic transfer, money order, or cash. (b) An installment lender shall not negotiate or present an instrument for payment unless the instrument is endorsed with the actual business name of the lender. (c) Prior to an installment lender negotiating or presenting the instrument, a consumer may redeem any instrument held by the lender as a result of an installment loan if the consumer pays the full amount of the instrument to the lender.
LawTrove is not legal advice. The summary above is a computer-generated restatement — the authoritative text is the official version linked above.