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;

Terms Used In Hawaii Revised Statutes 489D-21

  • Contract: A legal written agreement that becomes binding when signed.
(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 § 5311 et seq., Title 31 of the Code of Federal Regulations, Part 1022, section 1022.210, and other federal and state laws pertaining to money laundering.

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