Georgia Code
Article 13 - Licensing of Mortgage Lenders and Mortgage Brokers
§ 7-1-1017. Suspension or Revocation of Licenses, Registrations, or Mortgage Broker Education Approval; Notice; Judicial Review; Effect on Preexisting Contract

History. Code 1981, § 7-1-1017 , enacted by Ga. L. 1993, p. 543, § 1; Ga. L. 1994, p. 570, § 12; Ga. L. 1996, p. 453, § 2; Ga. L. 1997, p. 485, § 32; Ga. L. 1998, p. 795, § 31; Ga. L. 1998, p. 1094, § 4; Ga. L. 2000, p. 1589, § 3; Ga. L. 2003, p. 843, § 21; Ga. L. 2005, p. 826, § 36/SB 82; Ga. L. 2007, p. 502, § 39/SB 70; Ga. L. 2009, p. 252, § 1/HB 312; Ga. L. 2011, p. 518, § 17/HB 239; Ga. L. 2015, p. 344, § 34/HB 184; Ga. L. 2019, p. 462, § 1-4/SB 214; Ga. L. 2019, p. 828, § 36/HB 185.
The 2019 amendments. —
The first 2019 amendment, effective July 1, 2019, rewrote the first sentence of paragraph (a)(3), which read: “Where an applicant or licensee has been found to be a borrower in default as provided in Code Section 20-3-295, such action shall be sufficient grounds for refusal of a license or suspension of a license.” and deleted the former last sentence, which read: “In such actions, the hearing and appeal procedures provided for in Code Section 20-3-295 shall be the only such procedures required under this article.” The second 2019 amendment, effective July 1, 2019, deleted the paragraph (b)(1) designation and deleted former paragraph (b)(2), which read: “Notwithstanding the provisions of paragraph (1) of this subsection, the department may issue a notice of intent to suspend license to a mortgage loan originator when such mortgage loan originator is no longer sponsored by a licensed or registered mortgage broker or lender. If the mortgage loan originator is sponsored by a licensed or registered mortgage broker or lender within 30 days of the date of issuance of the notice of intent to suspend, such notice shall be rescinded. If the mortgage loan originator is not sponsored by a licensed or registered mortgage broker or lender within 30 days of the date of such issuance, the mortgage loan originator license shall automatically expire after 30 days and the person shall not act as a mortgage loan originator unless a new license application is submitted, all applicable fees are paid, and a license is issued by the department.”
Code Commission notes.
Pursuant to Code Section 28-9-5, in 1998, Ga. L. 1998, p. 795, § 31 and Ga. L. 1998, p. 1094, § 4, both amended this Code section. These amendments conflicted in the last sentence of paragraph (2) of subsection (a). This sentence was added in 1997 by Ga. L. 1997, p. 485, § 32. It was determined that the omission of the last sentence of paragraph (2) of subsection (a) by Ga. L. 1998, p. 1094, § 4 was inadvertent and thus the amendments were construed together to read as set out above.
Editor’s notes.
Ga. L. 2000, p. 1589, § 16, not codified by the General Assembly, provides that the 2000 amendment applied with respect to notices delivered on or after July 1, 2000.

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