§ 40-14-641 — 40-14-636. Records; confidentiality

Wyoming § 40-14-641

• Jurisdiction: Wyoming
• Title 40: Trade and Commerce
• Ch. 14: WYOMING UNIFORM CONSUMER CREDIT CODE
• Art. 6: ADMINISTRATION

Text

(a) For purposes of this section, "licensee" shall also
mean a licensed mortgage loan originator pursuant to W.S.
40-14-640 and an organization employing or contracting with a
mortgage loan originator.
(b) Every licensee shall maintain records in a manner that
will enable the administrator to determine whether the licensee
is complying with the provisions of this act. The administrator
may by rule, and in accordance with W.S. 40-14-606(c), specify
the manner in which records are to be made available. The
records need not be kept in the place of business of the
licensee, if the administrator is given free access to the
records wherever located. The records pertaining to any
transaction governed by this act need not be preserved for more
than two (2) years after making the final entry relating to the
transaction. In the case of a revolving loan account the two
(2) years is measured from the date of each entry.
(c) Except as provided in subsections (d), (e) and (j) of
this section, all information or reports obtained by the
administrator from an applicant or licensee are confidential.
(d) Except as provided in P.L. 110-289, section 1512, the
requirements under any federal or state law regarding the
privacy or confidentiality of any information or material
provided to the registry, 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, shall
continue to apply to such information or material after the
information or material has been disclosed to the registry.
Such information and any other confidential material obtained by
the administrator may be shared with all state and federal
regulatory officials with mortgage industry oversight authority
without the loss of privilege or the loss of confidentiality
protections provided by federal or state law.
(e) The administrator may enter into cooperative,
coordinating or information sharing agreements with any other
supervisory agency or any organization affiliated with or
representing one (1) or more supervisory agencies with respect
to the periodic examination or other supervision of any office
in Wyoming of an out-of-state licensee, and the administrator
may accept the parties' reports of examination and reports of
investigation in lieu of conducting his own examinations or
investigations.
(f) Information or material that is subject to a privilege
or confidentiality protection under subsection (d) of this
section shall not be subject to:
(i) Disclosure under any federal or state law
governing the disclosure to the public of information held by an
officer or agency of the federal government or the respective
state; or
(ii) Subpoena, discovery or admission into evidence,
in any private civil action or administrative process, unless
with respect to any privilege held by the registry with respect
to such information or material, the person to whom such
information or material pertains waives that privilege, in whole
or in part.
(g) Any Wyoming law relating to the disclosure of
confidential supervisory information or any information or
material described in subsection (d) of this section that is
inconsistent with subsection (d) of this section shall be
superceded by the requirements of this section.
(h) This section shall not apply with respect to the
information or material relating to the employment history of,
and publicly adjudicated disciplinary and enforcement actions
against, mortgage loan originator that is included in the
registry for access by the public.
(j) The administrator may enter into contracts with any
supervisory agency having concurrent jurisdiction over a Wyoming
licensee pursuant to this act to engage the services of the
agency's examiners at a reasonable rate of compensation. Any
contract under this subsection shall not be subject to the
provisions of W.S. 9-2-3204(b).
(k) This section does not prohibit the administrator from
disclosing to the public a list of persons licensed under this
act.