HRS §489D-21
Written contracts required for money transfer agents
If you are a licensed money transmitter, you must have a written contract with each person who works for you as an authorized delegate. The contract must say that the delegate can act for you, that no one can add subdelegates without state approval, that you are under state supervision, and that the delegate follows anti-money laundering laws.
The statute, as written — Authorized delegate contracts
Licensees desiring to conduct licensed activities through authorized delegates shall authorize each delegate to operate pursuant to an express written contract. These contracts shall provide the following: (1) That the licensee appoints the person as the licensee's delegate with authority to engage in money transmission on behalf of the licensee; (2) That neither a licensee nor an authorized delegate may authorize subdelegates without the written consent of the commissioner; (3) That the licensee is subject to supervision and rule by the commissioner; and (4) That the authorized delegate certifies that it is in compliance with the recordkeeping and reporting requirements under title 31 United States Code section 5311 et seq., [title] 31 Code of Federal Regulations part 1022, section 1022.210, and other federal and state laws pertaining to money laundering.
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