§489D-8 Permissible investments and statutory trust. (a) A licensee, at all times, shall possess permissible investments having an aggregate market value, calculated in accordance with generally accepted accounting principles, of not less than the aggregate amount of all outstanding payment obligations. This requirement may be waived by the commissioner if the dollar volume of a licensee's outstanding payment obligations does not exceed the bond or other security devices posted by the licensee pursuant to section 489D-7.
(b) Permissible investments, even if commingled with other assets of the licensee, shall be held in trust for the benefit of the purchasers and holders of the licensee's outstanding payment obligations in the event of the bankruptcy of the licensee. [L 2006, c 153, pt of §1; am L 2017, c 45, §2]
Structure Hawaii Revised Statutes
Title 26. Trade Regulation and Practice
489D-6 License qualifications.
489D-6.2 Registration with NMLS.
489D-7 Bond or other security device.
489D-8 Permissible investments and statutory trust.
489D-9 License and registration; application.
489D-10 Application and license fees
489D-11 Issuance of license; grounds for denial.
489D-12 Renewal of license and annual report.
489D-12.5 Penalties and other charges.
489D-14 Extraordinary reporting requirements.
489D-15 Changes in control of a licensee.
489D-16 Money laundering reports.
489D-17 Examinations and investigations.
489D-18 Maintenance of records.
489D-19 Confidentiality of records.
489D-20 Money transmitter receipts and refunds.
489D-21 Authorized delegate contracts.
489D-22 Authorized delegate; conduct.
489D-22.5 Voluntary surrender of license.
489D-24 Suspension or revocation of licenses.
489D-25 Suspension or revocation of authorized delegates.
489D-26 Orders to cease and desist.