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Financial Institution Mortgage Financing Regulation Act | |
Financial Institution Loan Originator Licensing Act | |
Section 203 | Initial licensure procedure. |
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70D-3-203. Initial licensure procedure. (1) To apply for licensure under this chapter an individual shall: (a) file an application with the commissioner in a form prescribed by the commissioner in rule; (b) demonstrate that the individual provided the information to the nationwide database required by 12 U.S.C. Sec. 5104; (c) provide the commissioner the individual's unique identifier; (d) consent to the commissioner receiving information obtained by the nationwide database under 12 U.S.C. Sec. 5104, including the results of a criminal history background check; and (e) notwithstanding the requirements applicable to a regulatory fee under Section 63J-1-504, pay a fee of $200. (2) The commissioner shall grant an individual a license if the commissioner finds that the individual complies with: (a) Subsection (1); and (b) the qualifications for a license under Section 70D-3-202. (3) Subject to this chapter, the commissioner may make rules in accordance with Title 63G, Chapter 3, Utah Administrative Rulemaking Act, concerning: (a) the form of an application under this chapter; (b) the content of an application under this chapter; and (c) the procedures for filing an application under this chapter.
Enacted by Chapter 72, 2009 General Session |
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