[§480J-35] Fees; bond. (a) An installment lender shall pay the following fees to the division to obtain and maintain a valid license under this chapter:
provided that the application fee and annual license renewal fee shall not apply to a nonprofit organization acting as an installment lender.
(b) A nonprofit organization acting as an installment lender shall pay the following fees to maintain a valid registration as a nonprofit organization in NMLS:
(c) The applicant shall file and maintain a surety bond that is approved by the commissioner and executed by the applicant as obligor and by a surety company authorized to operate as a surety in this State, whose liability as a surety does not exceed, in the aggregate, the penal sum of the bond. The penal sum of the bond shall be a minimum of $30,000 and a maximum of $250,000, based upon the annual dollar amount of loans originated.
(d) The surety bond required by subsection (c) shall run to the State of Hawaii as obligee for the use and benefit of the State and of any person or persons who may have a cause of action against the licensee as obligor under this chapter. The bond shall be conditioned upon the following:
(e) Each installment lender shall pay a nonrefundable fee of $100 to the division for each office that is relocated. [L 2021, c 56, pt of §2]