Section 5-26-19 – Report to Nationwide Mortgage Licensing System and Registry.
Section 5-26-19 Report to Nationwide Mortgage Licensing System and Registry. Notwithstanding state privacy law, the supervisor is required to report regularly violations of this chapter as well as enforcement actions and other relevant information to the Nationwide Mortgage Licensing System and Registry, subject to the provisions contained in Section 5-26-15. (Act 2009-627, p. 1907, §19.)
Section 5-24-21 – Authority of Financial Institution.
Section 5-24-21 Authority of financial institution. A financial institution may enter into a contract of deposit for a multiple-party account to the same extent it may enter into a contract of deposit for a single-party account, and may provide for a POD designation and an agency designation in either a single-party account or a multiple-party […]
Section 5-25-6 – Issuance of License.
Section 5-25-6 Issuance of license. (a) Upon receipt of a completed application for a license together with all items set forth in subsection (c) of Section 5-25-5, the department shall conduct such an investigation as it deems necessary to determine that the applicant and its officers, directors, and principals are of good character and ethical […]
Section 5-26-4 – License and Registration Required.
Section 5-26-4 License and registration required. (1) In general. An individual, unless specifically exempted from this chapter under subsection (2), shall not engage in the business of a mortgage loan originator with respect to any dwelling located in this state without first obtaining and maintaining annually a license under this chapter. Each licensed mortgage loan […]
Section 5-24-22 – Payment on Multiple-Party Account.
Section 5-24-22 Payment on multiple-party account. A financial institution, on request, may pay sums on deposit in a multiple-party account to: (1) One or more of the parties, whether or not another party is disabled, incapacitated, or deceased when payment is requested and whether or not the party making the request survives another party; or […]
Section 5-25-7 – Expiration and Renewal.
Section 5-25-7 Expiration and renewal. (a) All licenses issued pursuant to this chapter shall expire on December 31 of each year. Application for renewal shall be made annually on or before December 1 of each year to be effective for the following year. (b) Any licensee making proper application, including all supporting documents and all […]
Section 5-26-5 – State License and Registration Application and Issuance.
Section 5-26-5 State license and registration application and issuance. (1) Application form. Applicants for a license shall apply in a form as prescribed by the supervisor. Each such form shall contain content as set forth by rule, regulation, instruction, or procedure of the supervisor and may be changed or updated as necessary by the supervisor […]
Section 5-24-23 – Payment on Pod Designation.
Section 5-24-23 Payment on POD designation. A financial institution, on request, may pay sums on deposit in an account with a POD designation to: (1) One or more of the parties, whether or not another party is disabled, incapacitated, or deceased when the payment is requested and whether or not a party survives another party; […]
Section 5-25-8 – License Requirements.
Section 5-25-8 License requirements. (a) Each license issued under this chapter shall state the address of the licensee’s principal place of business and the name of the licensee. (b) A licensee shall post the license in a conspicuous place in each place of business of the licensee. (c) A license may not be transferred or […]
Section 5-26-6 – Issuance of License.
Section 5-26-6 Issuance of license. The supervisor shall not issue a mortgage loan originator license unless the Supervisor makes at a minimum the following findings: (1) NO LICENSE REVOCATION. The applicant has never had a mortgage loan originator license revoked in any governmental jurisdiction, except that a subsequent formal vacation of such revocation shall not […]