Terms Used In Hawaii Revised Statutes 480J-41

  • Consumer: means a natural person who is the buyer, lessee, or debtor to whom credit is granted in a transaction that is primarily for that natural person's personal, family, or household purposes. See Hawaii Revised Statutes 480J-1
  • Division: means the division of financial institutions of the department of commerce and consumer affairs. See Hawaii Revised Statutes 480J-1
  • NMLS: means the Nationwide Multistate Licensing System and Registry, which is a licensing system developed and maintained by the Conference of State Bank Supervisors for the state licensing and registration of state-licensed loan originators and other financial services providers, or any system provided by the Consumer Financial Protection Bureau. See Hawaii Revised Statutes 480J-1

All fees collected pursuant to section 480J-35, administrative fines, and other charges collected pursuant to this chapter shall be deposited into the compliance resolution fund established pursuant to section consumer affairs” class=”unlinked-ref” datatype=”S” sessionyear=”2022″ statecd=”HI”>26-9(o) and shall be payable through NMLS, to the extent allowed by NMLS. Fees not eligible for payment through NMLS shall be deposited into a separate account within the compliance resolution fund for use by the division.