Section 58.05 — Exemptions From License.
58.05 EXEMPTIONS FROM LICENSE. Subdivision 1. Exempt person. An exempt person as defined by section 58.04, subdivision 1, paragraph (c), and subdivision 2, paragraph (b), is exempt from the licensing requirements of this chapter, but is subject to all other provisions of this chapter. Subd. 2. [Repealed, 2000 c 427 s 21] Subd. 3. Certificate […]
Section 58.06 — Application Requirements For Residential Mortgage Originators And Servicers.
58.06 APPLICATION REQUIREMENTS FOR RESIDENTIAL MORTGAGE ORIGINATORS AND SERVICERS. Subdivision 1. License application form. Application for a residential mortgage originator or a residential mortgage servicer license must be in writing, under oath, and on a form obtained from and prescribed by the commissioner. Subd. 2. Application contents. (a) The application must contain the name and […]
Section 58.08 — Bonds; Letters Of Credit.
58.08 BONDS; LETTERS OF CREDIT. Subdivision 1. [Repealed, 2007 c 57 art 3 s 64] Subd. 1a. Residential mortgage originators. (a) An applicant for a residential mortgage originator license must file with the department a surety bond in the amount of $100,000, issued by an insurance company authorized to do so in this state. The […]
Section 58.09 — Term Of License.
58.09 TERM OF LICENSE. Licenses for residential mortgage originators and residential mortgage servicers issued under this chapter expire on December 31 and are renewable on January 1 of each year after that date. History: 1998 c 343 art 1 s 9; 2010 c 347 art 5 s 4