Section 3.14.062. Sponsorship.

Latest version.

	(a)  A mortgage loan originator license will not be granted to an applicant, unless a mortgage licensee sponsors the mortgage loan originator in the registry.  
	(b)  The sponsorship of a mortgage loan originator licensee by a mortgage licensee is not effective until it is approved by the department in the registry.  
	(c) To operate as a mortgage loan originator licensee in the state, an individual must maintain a sponsorship by a mortgage licensee in the registry approved by the department.  
	(d) A mortgage loan originator licensee may be sponsored by only one mortgage licensee under AS 06.60.159.

Authorities

06.60.012;06.60.159;06.60.910

Notes

Authority
 AS 06.60.012  
AS 06.60.159  
AS 06.60.910  
History Eff. 7/24/2009, Register 191; am 12/13/2009, Register 192; am 12/4/2010, Register 196

                    
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