A licensee may transact business from both a principal place of business and one or more branch offices provided each is licensed under this chapter. A principal place of business or branch office shall consist of at least one enclosed room or building of stationary construction in which negotiations of mortgage loan transactions may be conducted and carried on in privacy and in which all of the books, records, and files pertaining to mortgage loan transactions are maintained. Each principal place of business and branch office shall also be in compliance with local zoning ordinances and have posted any occupational licenses required by local government agencies. It is the responsibility of the licensee to meet local zoning ordinances and obtain the required occupational licenses; however, zoning for the principal place of business or the branch office shall not be residential.
Structure Code of Alabama
Title 5 - Banks and Financial Institutions.
Chapter 25 - Mortgage Brokers Licensing Act.
Section 5-25-3 - Persons Excluded.
Section 5-25-4 - License to Transact Business as a Mortgage Broker.
Section 5-25-5 - Application for License.
Section 5-25-6 - Issuance of License.
Section 5-25-7 - Expiration and Renewal.
Section 5-25-8 - License Requirements.
Section 5-25-9 - Maintenance and Examination of Records, Etc.
Section 5-25-10 - Annual Report.
Section 5-25-11 - Principal Place of Business; Branch Office.
Section 5-25-12 - Disclosure by Licensee; Prohibited Activities.
Section 5-25-13 - Rules and Regulations.
Section 5-25-14 - Denial, Suspension, or Revocation of License.
Section 5-25-16 - Enforcement and Penalties.