§ 12-10-708 — License renewal

(1) In order for a licensed mortgage loan
originator to renew a license issued pursuant to this part 7, the mortgage loan
originator shall:

(a) Continue to meet the minimum standards for issuance of a license
pursuant to this part 7;

(b) Satisfy the annual continuing education requirements set forth in section
12-10-704 (10) and in rules adopted by the board; and

(c) Pay applicable license renewal fees.

(2) If a licensed mortgage loan originator fails to satisfy the requirements of
subsection (1) of this section for license renewal, the mortgage loan originator's
license shall expire. The board shall adopt rules to establish procedures for the
reinstatement of an expired license consistent with the standards established by
the nationwide mortgage licensing system and registry.

Legislative History

Source: L. 2019: Entire title R&RE with relocations, (HB 19-1172), ch. 136, p. 696, � 1, effective October 1.