§ 19-14-22. Reporting requirements.
(a) Each licensee shall annually file a report with the director, or the director's designee,
on a quarterly basis, giving any relevant information that the director, or the director's
designee, may reasonably require concerning the business and operations during the
reporting period of each licensed place of business conducted by the licensee within
the state. The report shall be submitted through the Nationwide Multistate Licensing
System and attested to by the entity. To the extent that the Nationwide Multistate
Licensing System does not require submission of quarterly reports of condition, each
licensee shall, annually, on or before March 31, file a report with the director,
or the director's designee, giving any relevant information that the director, or
the director's designee, may reasonably require concerning the business and operations
during the preceding calendar year of each licensed place of business conducted by
the licensee within the state. At the time of renewal of the license, the sum of fifty-five
dollars ($55.00) per license and fifty-five dollars ($55.00) per branch certificate
shall be paid by the licensee to the director for the use of the state. Any licensee
who or that shall delay transmission of any report required by the provisions of this
title beyond the limit, unless additional time is granted, in writing, for good cause,
by the director, or the director's designee, shall pay a penalty of twenty-five dollars
($25) for each day of the delay. In lieu of a report by any licensed mortgage loan
originator, the director, or the director's designee, may accept a report by the licensed
lender or licensed loan broker who or that employed the licensed mortgage loan originator
for the activities of the licensed mortgage loan originator while employed by such
lender or loan broker during the applicable calendar year.
(b) Any licensee shall, within twenty-four (24) hours after actual knowledge, notify the
director, or the director's designee, in writing, of the occurrence of any of the
following events: the institution of bankruptcy, receivership, reorganization, or
insolvency proceedings regarding a licensee; the institution of any adverse government
action against a licensee; or any felony indictment or conviction of any licensee
or any officers, directors, owners, employees, members, or partners thereof, as the
case may be.
(c) Each mortgage loan originator licensee shall, on or before March 31, 2010, and every
March 31st thereafter, file with the director, or the director's designee, evidence
acceptable to the director, or the director's designee, that said loan originator
licensee has filed with the Nationwide Multistate Licensing System and Registry a
report of condition, which shall be in such form and shall contain such information
as the Nationwide Multistate Licensing System and Registry may require.
(d) Both the mortgage loan originator and his or her licensed employer shall promptly
notify the director, or the director's designee, in writing, within fifteen (15) business
days of the termination of employment or services of a mortgage loan originator.