§454F-1.6 Presumption of control. An individual is presumed to control a mortgage loan originator company if that individual is:
(1) An executive officer; or
(2) A director, general partner, or managing member who directly or indirectly has the right to vote ten per cent or more of a class of voting securities or has the power to sell or direct the sale of ten per cent or more of a class of voting securities of that licensee or applicant. [L 2010, c 84, pt of §3; am L 2012, c 252, §4; am L 2013, c 168, §4; am L 2016, c 122, §5; am L 2017, c 150, §2]
Structure Hawaii Revised Statutes
Title 25. Professions and Occupations
454F. Secure and Fair Enforcement for Mortgage Licensing Act
454F-1.5 Registration with NMLS required.
454F-1.6 Presumption of control.
454F-1.7 Duties of a qualified individual and branch manager.
454F-2.5 Exempt sponsoring mortgage loan originator company; registration.
454F-3 Requirement of licensure.
454F-4 License and registration; application; issuance.
454F-4.5 Automatic secondary review of license application.
454F-6 Pre-licensing and re-licensing; education of mortgage loan originators.
454F-7 Testing of mortgage loan originators.
454F-8 Standards for license renewal.
454F-8.5 Reinstatement of expired licenses.
454F-9 Continuing education; mortgage loan originators.
454F-10 Authority to require license.
454F-10.6 Voluntary cessation of operation; surrender of license.
454F-10.7 Change in control of a licensee; fees.
454F-11 NMLS registry information; challenge process.
454F-12 Enforcement authorities; violations; penalties.
454F-15 Investigation and examination authority.
454F-16 Mortgage call reports.
454F-18 Powers of commissioner.
454F-19 Unique identifier shown.
454F-24 Limited exemption for mortgage loan originators employed by mortgage servicers.
454F-25 Nonprofit organizations; mortgage loan originators.
454F-41 to 454F-47 designated as Part II pursuant to §23G-15.
454F-42 Statute of limitation; recovery from fund.
454F-45 Subrogation of rights.
454F-47 Disciplinary action against licensee.