§489D-17 - Examinations. - Hawaii Statutes

     §489D-17  Examinations.  (a)  The commissioner may conduct an annual on site examination of a licensee upon sixty days written notice to the licensee.  The commissioner may examine a licensee without prior notice if the commissioner has a reasonable basis to believe that the licensee is not in compliance with this chapter.  The on site examination may be conducted in conjunction with examinations performed by representatives of agencies of the federal government, or of another state or states.  The commissioner, in lieu of an on site examination, may accept the examination report of the federal government, an agency of another state, or an independent accounting firm.  Accepted reports are considered, for all purposes, an official report of the commissioner.  The licensee shall bear the cost of reasonable expenses incurred by the division, agencies of another state, or an independent licensed or certified public accountant in conducting an examination or making a report.

     (b)  The commissioner may request financial data from a licensee in addition to that required under section 489D-12, or conduct an on site examination of any authorized delegate or location of a licensee within the State without prior notice to the authorized delegate or licensee only if the commissioner has a reasonable basis to believe that the licensee or authorized delegate is not in compliance with this chapter.  When the commissioner examines an authorized delegate's operations, the authorized delegate shall pay all reasonably incurred costs of the examination.  When the commissioner examines a licensee's location within the State, the licensee shall pay all reasonably incurred costs of the examination.

     (c)  The commissioner shall charge an examination fee to each licensed money transmitter and authorized delegate examined or investigated by the commissioner or the commissioner's staff, based upon the cost per hour per examiner.  Effective July 1, 2008, the hourly fee shall be $60.

     (d)  In addition to the examination fee, the commissioner shall charge any money transmitter or authorized delegate examined or investigated by the commissioner or the commissioner's staff, additional amounts for travel, per diem, mileage, and other reasonable expenses incurred in connection with the examination. [L 2006, c 153, pt of §1; am L 2008, c 195, §11]