53-244.112. Criminal penalties for unlicensed activity.
Engaging in the mortgage business as defined by G.S. 53-244.030(11) or acting as a mortgage loan originator without a license as required by the provisions of G.S. 53-244.040 is a Class 3 misdemeanor. Each transaction involving unlicensed activity is a separate offense. (2009-374, s. 2.)
Structure North Carolina General Statutes
North Carolina General Statutes
Chapter 53 - Regulation of Financial Services
Article 19B - The Secure and Fair Enforcement Mortgage Licensing Act.
§ 53-244.020 - Purpose and construction.
§ 53-244.040 - License and registration requirements.
§ 53-244.050 - License and registration application; claim of exemption.
§ 53-244.060 - Issuance of license or registration.
§ 53-244.070 - Educational requirements for mortgage loan originators.
§ 53-244.080 - Testing requirements for mortgage loan originators.
§ 53-244.090 - Application fees.
§ 53-244.100 - Active license or registration requirements and assignability.
§ 53-244.101 - License and registration renewal.
§ 53-244.102 - Continuing education for mortgage loan originators.
§ 53-244.103 - Surety bond requirements.
§ 53-244.104 - Minimum net worth requirements.
§ 53-244.105 - Records, addresses, escrow funds, or trust accounts.
§ 53-244.106 - Display of license.
§ 53-244.107 - Unique identifier shown.
§ 53-244.109 - Mortgage broker duties.
§ 53-244.110 - Mortgage servicer duties.
§ 53-244.111 - Prohibited acts.
§ 53-244.112 - Criminal penalties for unlicensed activity.
§ 53-244.113 - Regulatory authority.
§ 53-244.114 - Licensure and registration authority.
§ 53-244.115 - Investigation and examination authority.
§ 53-244.116 - Disciplinary authority.
§ 53-244.118 - Rule-making authority; records.
§ 53-244.119 - Commissioner's participation in nationwide registry.