HRS §489D-9.5
Banks and credit unions are exempt from licensing
This section says that certain financial institutions, like banks and credit unions, do not need a license or examination under this law. A licensed company can appoint one of these institutions as its authorized delegate. If it does, the company must list the delegate's name and locations in Hawaii in its application or annual report.
financial institutions
The statute, as written — Limited exemption for financial institutions; financial institutions as authorized delegates
(a) Banks, bank holding companies, credit unions, savings banks, financial services loan companies, and mutual banks organized under the laws of the United States or any state shall be exempt from the licensing and examination provisions of this chapter. (b) An applicant or licensee may appoint an entity described in subsection (a) as an authorized delegate. (c) When submitting an application for a license pursuant to section 489D-9, or when submitting an annual report pursuant to section 489D-12, an applicant or licensee that appoints an entity described in subsection (a) as an authorized delegate shall include that entity's name and the locations in this State where that entity will conduct its authorized delegate activities.
Sections this one refers to
§489D-12 Renewing your money transmission license and filing your annual report
§489D-9 Applying for a license
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