§ 19-14.10-9. Standards for license renewal.
(a) The minimum standards for license renewal for mortgage loan originators shall include the following:
(1) The mortgage loan originator continues to meet the minimum standards for license issuance under § 19-14.10-6.
(2) The mortgage loan originator has satisfied the annual continuing education requirements described in § 19-14.10-10.
(3) The mortgage loan originator has paid all required fees for renewal of the license.
(b) The license of a mortgage loan originator failing to satisfy the minimum standards for license renewal shall expire. The director, or the director’s designee, may adopt procedures for the reinstatement of expired licenses consistent with the standards established by the Nationwide Mortgage Licensing System and Registry.
History of Section.P.L. 2009, ch. 148, § 3; P.L. 2009, ch. 160, § 3.
Structure Rhode Island General Laws
Title 19 - Financial Institutions
Section 19-14.10-1. - Short title.
Section 19-14.10-2. - Purpose.
Section 19-14.10-3. - Definitions.
Section 19-14.10-4. - License and registration required.
Section 19-14.10-5. - State license and registration application and issuance.
Section 19-14.10-6. - Issuance of license.
Section 19-14.10-7. - Pre-licensing and re-licensing education of loan originators.
Section 19-14.10-8. - Testing of loan originators.
Section 19-14.10-9. - Standards for license renewal.
Section 19-14.10-10. - Continuing education for mortgage loan originators.
Section 19-14.10-11. - Authority to require license.
Section 19-14.10-13. - Enforcement authorities, violations and penalties.
Section 19-14.10-14. - Surety bond required.
Section 19-14.10-15. - Confidentiality.
Section 19-14.10-16. - Investigation and examination authority.
Section 19-14.10-17. - Prohibited acts and practices.
Section 19-14.10-18. - Mortgage call reports.
Section 19-14.10-19. - Report to Nationwide Mortgage Licensing System and Registry.
Section 19-14.10-20. - Reserved.