§ 12-10-706 — License or registration inactivation

(1) The board may inactivate
a state license or a registration with the nationwide mortgage licensing system and
registry when a licensee has failed to:

(a) Comply with the surety bond requirements of sections 12-10-704 (8) and
12-10-717;

(b) Comply with the errors and omissions insurance requirement in section
12-10-707 or any rule of the board that directly or indirectly addresses errors and
omissions insurance requirements;

(c) Maintain current contact information, surety bond information, or errors
and omissions insurance information as required by this part 7 or by any rule of the
board that directly or indirectly addresses those requirements;

(d) Respond to an investigation or examination;

(e) Comply with any of the education or testing requirements set forth in this
part 7 or in any rule of the board that directly or indirectly addresses education or
testing requirements; or

(f) Register with and provide all required information to the nationwide
mortgage licensing system and registry.

Legislative History

Source: L. 2019: Entire title R&RE with relocations, (HB 19-1172), ch. 136, p. 694, � 1, effective October 1.