§ 28-8-6-502 — Establishment of licensing that is consistent with other states

Effective 1-1-2026.
Sec. 502. (a) To establish consistent licensing
between this state and other states, the director may:
(1) implement all licensing provisions of this chapter in a manner
that is consistent with other states that have adopted:
(A) a law containing the same provisions of this chapter; or
(B) multistate licensing processes; and
(2) participate in nationwide protocols for licensing cooperation
and coordination among state regulators if those protocols are
consistent with this chapter.
(b) To administer and enforce this chapter, the director may
establish relationships or contracts with the NMLSR or other entities
designated by the NMLSR to enable the director to:
(1) collect and maintain records;
(2) coordinate multistate licensing processes and supervision
processes;
(3) process fees; and
(4) facilitate communication between the state and licensees or
other persons subject to this chapter.
(c) The director may use the NMLSR for all aspects of licensing in
accordance with this chapter, including license applications,
applications for acquisitions of control, surety bonds, reporting,
criminal history background checks, credit checks, fee processing, and
examinations.
(d) The director may use NMLSR forms, processes, and
functionalities in accordance with this chapter. If the NMLSR does not
provide functionality, forms, or processes for a provision of this
chapter, the director may implement the requirements in a manner that
facilitates uniformity with respect to licensing, supervision, reporting,
and regulation of licensees that are licensed in multiple jurisdictions.
(e) For the purpose of participating in the NMLSR, the director is
authorized to waive or modify, in whole or in part, by rule or order, any
or all of the requirements for licensure and to establish new
requirements as reasonably necessary to participate in the NMLSR.

Legislative History

As added by P.L.222-2025, SEC.5.