Hawaii · 2025 Regular Session · Bill
SB 1368: RELATING TO THE MONEY TRANSMITTERS MODERNIZATION ACT.
In committee Official data
- Introduced
- In committee
- Passed one chamber
- Passed both chambers
- Enacted
Last official action: ·Record last updated:
Plain-language summary
SB 1368 is a bill introduced in the Hawaii Senate on January 21, 2025. According to its official title, it concerns: RELATING TO THE MONEY TRANSMITTERS MODERNIZATION ACT. Primary sponsor: Ron Kouchi (Democratic). Most recent recorded action (January 27, 2025): Referred to CPN, WAM.
Generated automatically from the official title, sponsor list, and status record only. It does not characterize the bill’s purpose or effects. How summaries are written
Official summary
Abstract published by the legislature (via Open States). Text as published by the legislature; reproduced verbatim.
Aligns the State's Money Transmitters Modernization Act with the Model Money Transmitters Modernization Act, thereby enabling Hawaii to work within a network of states to license, supervise, and examine transglobal money transmission companies as a multistate system; adopts nationwide standards that provide clarity and consistency in calculating the tangible net worth of licensees; ensures that licensees have sufficient financial resources to conduct their business in a safe and sound manner; and promotes efficiency throughout the licensing process.
Sponsors
Sponsors by party (alphabetical): Democratic 1
| Name | Role | Party | Chamber | District |
|---|---|---|---|---|
| Ron Kouchi | Primary sponsor | Democratic | Senate | 8 |
“Support” is shown only as formal sponsorship recorded by the legislature. Roll-call votes are available on the official bill page.
Recent official actions
- Referred to CPN, WAM.
- Introduced and passed First Reading.
- Pending Introduction.