Section 3.14.990. Definitions.

	(a)  In this chapter, unless the context requires otherwise,  
		(1) "branch manager" means an individual who is in charge of and responsible for the business operations of a branch office of a mortgage licensee;  
		(2) "business entity"  
			(A) means a form of business ownership other than a natural person; and  
			(B) includes a corporation, limited liability company, partnership, limited partnership, limited liability partnership, and trust;  
		(3) "Form MU1" means the uniform mortgage lender and mortgage broker license application developed and used by the registry;  
		(4) "Form MU2" means the uniform mortgage biographical statement and consent form developed and used by the registry;  
		(5) "Form MU3" means the uniform mortgage branch office form developed and used by the registry;  
		(6) "Form MU4" means the uniform individual mortgage license, registration, and consent form developed and used by the registry;  
		(7) "other trade name" means a name other than the legal name of a business entity;  
		(8) "qualifying individual" is the person in charge of the business operations of the mortgage licensee with responsibility and authority to supervise and control the operations in this state;  
		(9) "registered agent" means a person located in this state and appointed to accept service of process.  
	(b)  In AS 06.60  and this chapter, unless the context requires otherwise,  
		(1) "advertising" means making or permitting to be made any oral, written, graphic, or pictorial statements, in any manner, whether in print, aurally, or by electronic means, in the course of the solicitation of business;  
		(2) "branch office" means a location separate from main address on the Form MU1 where one or more persons are authorized to act on behalf of a mortgage licensee to perform activities for which a license is required under AS 06.60;  
		(3) "change in control" means a change in the identity of a person holding a control interest in the mortgage licensee;  
		(4) "closing" means the process of executing legally binding documents regarding a lien on real property that is subject to a mortgage loan;  
		(5) "loan application" means the Uniform Residential Loan Application, Fannie Mae Form 1003, Freddie Mac Form 65, any successor form, or any other similar form or document, whether standardized or unique, used to collect mortgage loan qualification information;  
		(6) "principal place of business" means the location of the main address listed on the Form MU1.  

Authorities

06.60.010;06.60.016;06.60.910

Notes

Authority

AS 06.60.010 AS 06.60.016 AS 06.60.910 ________________________

History

Eff. 7/1/2008, Register 186; am 7/24/2009, Register 191; am 12/13/2009, Register 192; am 12/4/2010, Register 196