(a)The commissioner is authorized to utilize NMLS for all aspects of licensing in accordance with this chapter, including, but not limited to, license applications, renewal applications, applications for acquisitions of control, notifications, surety bonds, reporting, criminal history background checks, credit checks, fee processing, and examinations. The commissioner is authorized to:
(1)Promulgate rules that are reasonably necessary for participation in, transition to, or operation of NMLS;
(2)Utilize NMLS forms, processes, and functionalities in accordance with this chapter;
(3)Require that applications, notifications, reports, and any other information required under this chapter be filed with NMLS;
(4)Require that any fees required to be paid under this chapter be paid through NM
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(a) The commissioner is authorized to utilize NMLS for all aspects of licensing in accordance with this chapter, including, but not limited to, license applications, renewal applications, applications for acquisitions of control, notifications, surety bonds, reporting, criminal history background checks, credit checks, fee processing, and examinations. The commissioner is authorized to: (1) Promulgate rules that are reasonably necessary for participation in, transition to, or operation of NMLS; (2) Utilize NMLS forms, processes, and functionalities in accordance with this chapter; (3) Require that applications, notifications, reports, and any other information required under this chapter be filed with NMLS; (4) Require that any fees required to be paid under this chapter be paid through NMLS; and (5) Take other actions as are reasonably necessary to give effect to this section. (b) Applicants and licensees under this chapter shall pay all costs associated with submitting an application to NMLS, as well as all costs required by NMLS for maintaining and renewing any license issued by the commissioner on NMLS. (c) The commissioner is authorized to use NMLS as an agent for channeling information, whether criminal or noncriminal in nature, or whether derived from or distributed to the United States department of justice, any other state or federal governmental agency, or any other source, that the commissioner is authorized to request or distribute under this chapter. (d) (1) In order to promote more effective regulation and reduce regulatory burden through supervisory information sharing, the requirements under any federal or state law regarding the privacy or confidentiality of any information or material provided to NMLS, and any privilege arising under federal or state law, including the rules of any federal or state court, with respect to such information or material, continue to apply to the information or material after the information or material has been disclosed to NMLS. The information or material may be shared with all state and federal regulatory officials with money transmission oversight authority without the loss of privilege or the loss of confidentiality protections provided by federal or state law, including the protection available under §§ 45-1-120 and 45-7-108 . (2) For purposes of subdivision (d)(1), the commissioner is authorized to enter into agreements or sharing agreements with other governmental agencies, the Conference of State Bank Supervisors, or other associations representing governmental agencies as established by rule or an order of the commissioner. (3) Information or material that is subject to a privilege or is confidential under subdivision (d)(1) is not subject to: (A) Disclosure under any federal or state law governing the disclosure to the public of information held by an officer or any agency of the federal government or the respective state; or (B) Subpoena, discovery, or admission into evidence in any private civil action or administrative process, unless with respect to any privilege held by NMLS applicable to such information or material, the person to whom such information or material pertains waives that privilege, in whole or in part, in the discretion of such person. (4) This section supersedes any inconsistent provisions of title 10, chapter 7, part 5, pertaining to the records open to public inspection. (5) This section does not apply with respect to information or material relating to publicly adjudicated disciplinary and enforcement actions against persons subject to this chapter that is included in NMLS for access by the public. (e) Notwithstanding any other provision of this section, the commissioner retains full authority and discretion to license persons under this chapter and to enforce this chapter to its fullest extent. Nothing in this section reduces or derogates that authority and discretion. (f) For the purpose of participating in NMLS, the commissioner is authorized to waive or modify, in whole or in part, any or all of the requirements under this chapter and to establish new requirements as reasonably necessary to participate in NMLS.