§ 1422.9. Effectiveness of Mortgage Lender, Mortgage Broker, Mortgage Lender and Broker, and Mortgage Loan Originator Licenses.

(a) A license as a mortgage lender, mortgage broker, or mortgage lender and broker under Section 22100 of the Code continues in effect until it is revoked or suspended by the Commissioner, or surrendered by the mortgage lender, mortgage broker, or mortgage lender and broker and the surrender has been accepted by the Commissioner pursuant to Section 1422.10 of Subchapter 6 of these rules.

(b) A license as a mortgage loan originator under Section 22100 of the Code shall be renewed on an annual basis in accordance with Section 1422.6.3 of Subchapter 6 of these rules. The license shall be in effect for the calendar year unless revoked, suspended, or surrendered.

HISTORY

1. New section filed 4-1-2010 as an emergency; operative 4-1-2010 (Register 2010, No. 14). A Certificate of Compliance must be transmitted to OAL by 9-28-2010 or emergency language will be repealed by operation of law on the following day.

2. New section refiled 9-28-2010 as an emergency; operative 9-28-2010 (Register 2010, No. 40). A Certificate of Compliance must be transmitted to OAL by 12-27-2010 or emergency language will be repealed by operation of law on the following day.

3. New section refiled 12-23-2010 as an emergency; operative 12-23-2010 (Register 2010, No. 52). A Certificate of Compliance must be transmitted to OAL by 3-23-2011 or emergency language will be repealed by operation of law on the following day.

4. Certificate of Compliance as to 12-23-2010 order, including amendment of subsection (b), transmitted to OAL 3-14-2011 and filed 4-25-2011; amendments operative 5-25-2011 (Register 2011, No. 17).

Note

Note: Authority cited: Sections 22100 and 22150, Financial Code. Reference: Section 22109.6, Financial Code.