An unlawful act or violation of this part 7 upon the part of an agent or employee of a licensed mortgage loan originator shall not be cause for disciplinary action against a mortgage loan originator unless it appears that the mortgage loan originator knew or should have known of the unlawful act or violation or had been negligent in the supervision of the agent or employee.
Source: L. 2019: Entire title R&RE with relocations, (HB 19-1172), ch. 136, p. 710, § 1, effective October 1.
Editor's note: This section is similar to former § 12-61-911.5 as it existed prior to 2019.
Structure Colorado Code
Title 12 - Professions and Occupations
Part 7 - Mortgage Loan Originators
§ 12-10-704. License Required - Rules
§ 12-10-705. Registration Required - Rules
§ 12-10-706. License or Registration Inactivation
§ 12-10-709. Exemptions - Definition - Rules
§ 12-10-710. Originator's Relationship to Borrower - Rules
§ 12-10-711. Powers and Duties of the Board - Rules
§ 12-10-712. Powers and Duties of the Board Over Mortgage Companies - Fines - Rules
§ 12-10-713. Disciplinary Actions - Grounds - Procedures - Rules
§ 12-10-714. Hearing - Administrative Law Judge - Review - Rules
§ 12-10-715. Subpoena - Misdemeanor
§ 12-10-717. Bond Required - Rules
§ 12-10-719. Attorney General - District Attorney - Jurisdiction
§ 12-10-720. Violations - Injunctions
§ 12-10-721. Prohibited Conduct - Influencing a Real Estate Appraisal
§ 12-10-722. Rule-Making Authority
§ 12-10-723. Acts of Employee - Mortgage Loan Originator's Liability
§ 12-10-724. Dual Status as Real Estate Broker - Requirements
§ 12-10-725. Written Disclosure of Fees and Costs - Contents - Limits on Fees - Rules
§ 12-10-726. Fee, Commission, or Compensation - When Permitted - Amount
§ 12-10-728. Mortgage Call Reports - Reports of Violations