REQUIRES TWO-THIRDS MAJORITY VOTE (§§ 5, 6) exempt
(Reprinted with amendments adopted on April 21, 2003)
FIRST REPRINT A.B. 490
Assembly
Bill No. 490–Committee on
Commerce and Labor
March 24, 2003
____________
Referred to Committee on Commerce and Labor
SUMMARY—Revises provisions governing mortgage brokers and mortgage agents. (BDR 54‑998)
FISCAL NOTE: Effect on Local Government: Yes.
Effect on the State: Yes.
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EXPLANATION
– Matter in bolded italics is new; matter
between brackets [omitted material] is material to be omitted.
Green numbers along left margin indicate location on the printed bill (e.g., 5-15 indicates page 5, line 15).
AN ACT relating to mortgage investments; creating the Board for the Regulation of Mortgage Brokers and Mortgage Agents; authorizing the Board to direct the Commissioner of Financial Institutions in regulating mortgage brokers and mortgage agents; providing for the licensure of mortgage agents; providing that advertising spokespersons for mortgage brokers are jointly and severally liable for damages caused by the mortgage brokers under certain circumstances; increasing the amount of continuing education annually required of mortgage brokers and mortgage agents; revising provisions governing continuing education; and providing other matters properly relating thereto.
THE PEOPLE OF THE STATE OF NEVADA, REPRESENTED IN
SENATE AND ASSEMBLY, DO ENACT AS FOLLOWS:
1-1 Section 1. Chapter 645B of NRS is hereby amended by adding
1-2 thereto the provisions set forth as sections 2 to 10, inclusive, of this
1-3 act.
1-4 Sec. 2. “Board” means the Board for the Regulation of
1-5 Mortgage Brokers and Mortgage Agents created by section 8 of
1-6 this act.
1-7 Sec. 3. 1. An advertising spokesperson for a mortgage
1-8 broker is jointly and severally liable with the mortgage broker for
2-1 damages caused by the mortgage broker by fraud, embezzlement,
2-2 misappropriation of property, a violation of the provisions of this
2-3 chapter or the regulations adopted pursuant thereto, or an action
2-4 of the mortgage broker that is grounds for disciplinary action, if:
2-5 (a) The advertising spokesperson knew or should have known
2-6 of the fraud, embezzlement, misappropriation of property,
2-7 violation of the provisions of this chapter or the regulations
2-8 adopted pursuant thereto, or action of the mortgage broker that is
2-9 grounds for disciplinary action; or
2-10 (b) In advertising for the mortgage broker, the advertising
2-11 spokesperson knew or should have known that:
2-12 (1) The conduct of the advertising spokesperson was likely
2-13 to deceive, defraud or harm the public or any person who engaged
2-14 in business with the mortgage broker; or
2-15 (2) The advertising spokesperson was disseminating
2-16 material information concerning the mortgage broker or the
2-17 business, products or services of the mortgage broker, which was
2-18 false or misleading.
2-19 2. As used in this section:
2-20 (a) “Advertising for a mortgage broker” means advertising or
2-21 otherwise promoting a mortgage broker or the business, products
2-22 or services of the mortgage broker using any medium of
2-23 communication.
2-24 (b) “Advertising spokesperson for a mortgage broker” or
2-25 “advertising spokesperson” means a person who consents to and
2-26 receives compensation for using his name or likeness in
2-27 advertising for a mortgage broker.
2-28 Sec. 4. A person shall not act as or provide any of the
2-29 services of a mortgage agent or otherwise engage in, carry on or
2-30 hold himself out as engaging in or carrying on the activities of a
2-31 mortgage agent unless the person:
2-32 1. Has a license as a mortgage agent issued pursuant to
2-33 section 5 of this act; and
2-34 2. Is registered pursuant to NRS 645B.450.
2-35 Sec. 5. 1. To obtain a license as a mortgage agent, a person
2-36 must:
2-37 (a) Be a natural person;
2-38 (b) File a written application for a license as a mortgage agent
2-39 with the office of the Commissioner;
2-40 (c) Comply with the applicable requirements of this chapter;
2-41 and
2-42 (d) Pay an application fee set by the Commissioner of not more
2-43 than $185.
2-44 2. An application for a license as a mortgage agent must:
2-45 (a) Be verified;
3-1 (b) State the name and residence address of the applicant;
3-2 (c) Include a provision by which the applicant gives his written
3-3 consent to an investigation of his credit history, criminal history
3-4 and background; and
3-5 (d) Include any other information or supporting materials
3-6 required pursuant to the regulations adopted by the Commissioner
3-7 or an order of the Commissioner. Such information or supporting
3-8 materials may include, without limitation, a complete set of
3-9 fingerprints from the person and other forms of identification of
3-10 the person.
3-11 3. Except as otherwise provided in this chapter, the
3-12 Commissioner shall issue a license as a mortgage agent to an
3-13 applicant if:
3-14 (a) The application complies with the applicable requirements
3-15 of this chapter; and
3-16 (b) The applicant:
3-17 (1) Has not been convicted of, or entered a plea of nolo
3-18 contendere to, a felony or any crime involving fraud,
3-19 misrepresentation or moral turpitude;
3-20 (2) Has not had a financial services license suspended or
3-21 revoked within the immediately preceding 10 years;
3-22 (3) Has not made a false statement of material fact on his
3-23 application;
3-24 (4) Has not violated any provision of this chapter or
3-25 chapter 645E of NRS, a regulation adopted pursuant thereto or an
3-26 order of the Commissioner; and
3-27 (5) Has a good reputation for honesty, trustworthiness and
3-28 integrity and displays competence to transact the business of a
3-29 mortgage agent in a manner which safeguards the interests of the
3-30 general public. The applicant must submit satisfactory proof of
3-31 these qualifications to the Commissioner.
3-32 4. Money received by the Commissioner pursuant to this
3-33 section must be placed in the Investigative Account created by
3-34 NRS 232.545.
3-35 Sec. 6. 1. A license as a mortgage agent issued pursuant to
3-36 section 5 of this act expires one year after the date the license is
3-37 issued, unless it is renewed. To renew a license as a mortgage
3-38 agent, the holder of the license must submit to the Commissioner
3-39 each year, on or before the date the license expires:
3-40 (a) An application for renewal;
3-41 (b) Except as otherwise provided in this section, satisfactory
3-42 proof that the holder of the license as a mortgage agent attended
3-43 at least 10 hours of certified courses of continuing education
3-44 during the 12 months immediately preceding the date on which the
3-45 license expires; and
4-1 (c) A renewal fee set by the Commissioner of not more than
4-2 $170.
4-3 2. If the holder of the license as a mortgage agent fails to
4-4 submit any item required pursuant to subsection 1 to the
4-5 Commissioner each year on or before the date the license expires,
4-6 the license is cancelled. The Commissioner may reinstate a
4-7 cancelled license if the holder of the license submits to the
4-8 Commissioner:
4-9 (a) An application for renewal;
4-10 (b) The fee required to renew the license pursuant to this
4-11 section; and
4-12 (c) A reinstatement fee of $75.
4-13 3. To be issued a duplicate copy of a license as a mortgage
4-14 agent, a person must make a satisfactory showing of its loss and
4-15 pay a fee of $10.
4-16 4. Money received by the Commissioner pursuant to this
4-17 section must be deposited in the State Treasury for credit to the
4-18 State General Fund.
4-19 5. The Commissioner may provide by regulation that a
4-20 certified course of continuing education attended during a 12-
4-21 month period, but not needed to satisfy a requirement set forth in
4-22 this section for the 12-month period in which the course was
4-23 taken, may be used to satisfy a requirement set forth in this section
4-24 for a later 12-month period.
4-25 6. As used in this section, “certified course of continuing
4-26 education” has the meaning ascribed to it in NRS 645B.051.
4-27 Sec. 7. 1. In addition to any other requirement for the
4-28 issuance of a license as a mortgage agent pursuant to section 5 of
4-29 this act, an applicant for the issuance of the license must include
4-30 his social security number in his application.
4-31 2. In addition to any other requirement for the issuance or
4-32 renewal of a license as a mortgage agent pursuant to section 5 or
4-33 6 of this act, an applicant for the issuance or renewal of the
4-34 license shall submit to the Commissioner the statement prescribed
4-35 by the Welfare Division of the Department of Human Resources
4-36 pursuant to NRS 425.520. The statement must be completed and
4-37 signed by the applicant.
4-38 3. The Commissioner shall include the statement required
4-39 pursuant to subsection 2 in:
4-40 (a) The application or any other forms that must be submitted
4-41 for the issuance or renewal of the license as a mortgage agent; or
4-42 (b) A separate form prescribed by the Commissioner.
4-43 4. The license as a mortgage agent may not be issued or
4-44 renewed by the Commissioner if the applicant:
5-1 (a) Fails to submit the statement required pursuant to
5-2 subsection 2; or
5-3 (b) Indicates on the statement submitted pursuant to
5-4 subsection 2 that he is subject to a court order for the support of a
5-5 child and is not in compliance with the order or a plan approved
5-6 by the district attorney or other public agency enforcing the order
5-7 for the repayment of the amount owed pursuant to the order.
5-8 5. If an applicant indicates on the statement submitted
5-9 pursuant to subsection 2 that he is subject to a court order for the
5-10 support of a child and is not in compliance with the order or a
5-11 plan approved by the district attorney or other public agency
5-12 enforcing the order for the repayment of the amount owed
5-13 pursuant to the order, the Commissioner shall advise the applicant
5-14 to contact the district attorney or other public agency enforcing
5-15 the order to determine the actions that the applicant may take to
5-16 satisfy the arrearage.
5-17 Sec. 7.5. 1. Any mortgage broker or mortgage agent
5-18 licensed under the provisions of this chapter who is called into the
5-19 military service of the United States shall, at his request, be
5-20 relieved from compliance with the provisions of this chapter and
5-21 placed on inactive status for the period of such military service
5-22 and for a period of 6 months after discharge therefrom.
5-23 2. At any time within 6 months after termination of such
5-24 service, providing the provisions of subsection 1 are complied
5-25 with, the mortgage broker or mortgage agent may be reinstated,
5-26 without having to meet any qualification or requirement other
5-27 than the payment of the reinstatement fee, as provided in NRS
5-28 645B.050 or section 6 of this act, and the mortgage broker or
5-29 mortgage agent must not be required to make payment of the
5-30 renewal fee for the current year.
5-31 3. Any mortgage broker or mortgage agent seeking to qualify
5-32 for reinstatement, as provided in subsections 1 and 2, must present
5-33 a certified copy of his honorable discharge or certificate of
5-34 satisfactory service to the Commissioner.
5-35 Sec. 8. 1. The Board for the Regulation of Mortgage
5-36 Brokers and Mortgage Agents is hereby created. The Board
5-37 consists of five members, each of whom must:
5-38 (a) Be a citizen of the United States;
5-39 (b) Be a resident of the State of Nevada; and
5-40 (c) Have been a resident of the State of Nevada for the 3 years
5-41 immediately preceding his appointment to the Board.
5-42 2. The Governor shall appoint to the Board:
5-43 (a) Two members who must be:
5-44 (1) Licensed pursuant to this chapter; and
6-1 (2) Engaged in business as a mortgage broker or mortgage
6-2 agent; and
6-3 (b) One member who is a representative of the general public.
6-4 3. The Speaker of the Assembly and the Majority Leader of
6-5 the Senate shall each appoint to the Board one member who must
6-6 possess knowledge of the field of financial services.
6-7 4. At the first meeting of the Board after July 1 of each year,
6-8 the members of the Board shall elect from among the members a
6-9 Chairman of the Board.
6-10 5. A majority of the members constitutes a quorum, and a
6-11 majority of those present must concur in any decision.
6-12 6. Each member is entitled to receive a salary of not more
6-13 than $80, as fixed by the Board, for each day’s attendance at a
6-14 meeting of the Board.
6-15 7. While engaged in the business of the Board, each member
6-16 is entitled to receive the per diem allowance and travel expenses
6-17 provided for state officers and employees generally.
6-18 Sec. 8.5. 1. The Board is hereby declared to be supreme in
6-19 all matters related to the administration and enforcement of the
6-20 provisions of this chapter, but not the administration of the
6-21 Division.
6-22 2. As directed by the Board, the Commissioner shall provide
6-23 all advice, support and assistance to the Board that the Board
6-24 deems necessary or useful.
6-25 Sec. 9. The Board shall:
6-26 1. Supervise and direct the actions and decisions of the
6-27 Commissioner with regard to the administration and enforcement
6-28 of the provisions of this chapter.
6-29 2. Establish policies and standards for the administration and
6-30 enforcement of the provisions of this chapter.
6-31 3. Meet not less than once each quarter to review the actions
6-32 and decisions of the Commissioner in administering and enforcing
6-33 the provisions of this chapter.
6-34 Sec. 10. The Board may:
6-35 1. Adopt regulations as necessary to administer and enforce
6-36 this chapter, including, without limitation, regulations which
6-37 revise or repeal any regulations adopted by the Commissioner
6-38 pursuant to this chapter.
6-39 2. Require the Commissioner to provide any records or
6-40 information the Board deems necessary or useful for the Board to
6-41 exercise its powers.
6-42 Sec. 11. NRS 645B.010 is hereby amended to read as follows:
6-43 645B.010 As used in this chapter, unless the context otherwise
6-44 requires, the words and terms defined in NRS [645B.0103]
7-1 645B.0105 to 645B.0135, inclusive, and section 2 of this act, have
7-2 the meanings ascribed to them in those sections.
7-3 Sec. 12. NRS 645B.0123 is hereby amended to read as
7-4 follows:
7-5 645B.0123 “Licensee” means a person who is licensed as a
7-6 mortgage broker pursuant to this chapter. The term does not include
7-7 a person issued a license as a mortgage agent pursuant to section
7-8 5 of this act.
7-9 Sec. 13. NRS 645B.016 is hereby amended to read as follows:
7-10 645B.016 Except as otherwise provided in NRS 645B.690:
7-11 1. A person who claims an exemption from the provisions of
7-12 this chapter pursuant to subsection 1 or 6 of NRS 645B.015 must:
7-13 (a) File a written application for a certificate of exemption with
7-14 the office of the Commissioner;
7-15 (b) Pay the fee required pursuant to NRS 645B.050; and
7-16 (c) Include with the written application satisfactory proof that
7-17 the person meets the requirements of subsection 1 or 6 of
7-18 NRS 645B.015.
7-19 2. The Commissioner may require a person who claims an
7-20 exemption from the provisions of this chapter pursuant to
7-21 subsections 2 to 5, inclusive, or 7 to 10, inclusive, of NRS 645B.015
7-22 to:
7-23 (a) File a written application for a certificate of exemption with
7-24 the office of the Commissioner;
7-25 (b) Pay the fee required pursuant to NRS 645B.050; and
7-26 (c) Include with the written application satisfactory proof that
7-27 the person meets the requirements of at least one of those
7-28 exemptions.
7-29 3. A certificate of exemption expires automatically if, at any
7-30 time, the person who claims the exemption no longer meets the
7-31 requirements of at least one exemption set forth in the provisions of
7-32 NRS 645B.015.
7-33 4. If a certificate of exemption expires automatically pursuant
7-34 to this section, the person shall not provide any of the services of a
7-35 mortgage broker or mortgage agent or otherwise engage in, carry
7-36 on or hold himself out as engaging in or carrying on the business of
7-37 a mortgage broker[,] or mortgage agent unless the person applies
7-38 for and is issued:
7-39 (a) A license as a mortgage broker or mortgage agent, as
7-40 applicable, pursuant to this chapter; or
7-41 (b) Another certificate of exemption.
7-42 5. The Commissioner may impose upon a person who is
7-43 required to apply for a certificate of exemption or who holds a
7-44 certificate of exemption an administrative fine of not more than
7-45 $10,000 for each violation that he commits, if the person:
8-1 (a) Has knowingly made or caused to be made to the
8-2 Commissioner any false representation of material fact;
8-3 (b) Has suppressed or withheld from the Commissioner any
8-4 information which the person possesses and which, if submitted by
8-5 him, would have rendered the person ineligible to hold a certificate
8-6 of exemption; or
8-7 (c) Has violated any provision of this chapter, a regulation
8-8 adopted pursuant to this chapter or an order of the Commissioner
8-9 that applies to a person who is required to apply for a certificate of
8-10 exemption or who holds a certificate of exemption.
8-11 6. To the extent consistent with federal law, a certificate of
8-12 exemption does not exempt the holder from the requirements of
8-13 NRS 645B.450.
8-14 Sec. 14. NRS 645B.035 is hereby amended to read as follows:
8-15 645B.035 1. A license as a mortgage broker entitles a
8-16 licensee to engage only in the activities authorized by this chapter.
8-17 2. The provisions of this chapter do not prohibit a licensee
8-18 from:
8-19 (a) Holding a license as a mortgage company pursuant to
8-20 chapter 645E of NRS; or
8-21 (b) Conducting the business of a mortgage company and the
8-22 business of a mortgage broker in the same office or place of
8-23 business.
8-24 Sec. 15. NRS 645B.050 is hereby amended to read as follows:
8-25 645B.050 1. A license as a mortgage broker issued pursuant
8-26 to this chapter expires each year on June 30, unless it is renewed. To
8-27 renew such a license, the licensee must submit to the Commissioner
8-28 on or before June 30 of each year:
8-29 (a) An application for renewal;
8-30 (b) The fee required to renew the license pursuant to this
8-31 section;
8-32 (c) If the licensee is a natural person, the statement required
8-33 pursuant to NRS 645B.023; and
8-34 (d) The information required pursuant to NRS 645B.051.
8-35 2. If the licensee fails to submit any item required pursuant to
8-36 subsection 1 to the Commissioner on or before June 30 of any year,
8-37 the license is cancelled. The Commissioner may reinstate a
8-38 cancelled license if the licensee submits to the Commissioner:
8-39 (a) An application for renewal;
8-40 (b) The fee required to renew the license pursuant to this
8-41 section;
8-42 (c) If the licensee is a natural person, the statement required
8-43 pursuant to NRS 645B.023;
8-44 (d) The information required pursuant to NRS 645B.051; and
9-1 (e) Except as otherwise provided in this section, a reinstatement
9-2 fee of $200.
9-3 3. Except as otherwise provided in NRS 645B.016, a certificate
9-4 of exemption issued pursuant to this chapter expires each year on
9-5 December 31, unless it is renewed. To renew a certificate of
9-6 exemption, a person must submit to the Commissioner on or before
9-7 December 31 of each year:
9-8 (a) An application for renewal that includes satisfactory proof
9-9 that the person meets the requirements for an exemption from the
9-10 provisions of this chapter; and
9-11 (b) The fee required to renew the certificate of exemption.
9-12 4. If the person fails to submit any item required pursuant to
9-13 subsection 3 to the Commissioner on or before December 31 of any
9-14 year, the certificate of exemption is cancelled. Except as otherwise
9-15 provided in NRS 645B.016, the Commissioner may reinstate a
9-16 cancelled certificate of exemption if the person submits to the
9-17 Commissioner:
9-18 (a) An application for renewal that includes satisfactory proof
9-19 that the person meets the requirements for an exemption from the
9-20 provisions of this chapter;
9-21 (b) The fee required to renew the certificate of exemption; and
9-22 (c) Except as otherwise provided in this section, a reinstatement
9-23 fee of $100.
9-24 5. Except as otherwise provided in this section, a person must
9-25 pay the following fees to apply for, to be issued or to renew a
9-26 license as a mortgage broker pursuant to this chapter:
9-27 (a) To file an original application or a license, $1,500 for the
9-28 principal office and $40 for each branch office. The person must
9-29 also pay such additional expenses incurred in the process of
9-30 investigation as the Commissioner deems necessary. All money
9-31 received by the Commissioner pursuant to this paragraph must be
9-32 placed in the Investigative Account created by NRS 232.545.
9-33 (b) To be issued a license, $1,000 for the principal office and
9-34 $60 for each branch office.
9-35 (c) To renew a license, $500 for the principal office and $100
9-36 for each branch office.
9-37 6. Except as otherwise provided in this section, a person must
9-38 pay the following fees to apply for or to renew a certificate of
9-39 exemption pursuant to this chapter:
9-40 (a) To file an application for a certificate of exemption, $200.
9-41 (b) To renew a certificate of exemption, $100.
9-42 7. To be issued a duplicate copy of any license or certificate of
9-43 exemption, a person must make a satisfactory showing of its loss
9-44 and pay a fee of $10.
10-1 8. Except as otherwise provided in this chapter, all fees
10-2 received pursuant to this chapter must be deposited in the State
10-3 Treasury for credit to the State General Fund.
10-4 9. The Commissioner may, by regulation, increase any fee set
10-5 forth in this section if the Commissioner determines that such an
10-6 increase is necessary for the Commissioner to carry out his duties
10-7 pursuant to this chapter. The amount of any increase in a fee
10-8 pursuant to this subsection must not exceed the amount determined
10-9 to be necessary for the Commissioner to carry out his duties
10-10 pursuant to this chapter.
10-11 Sec. 16. NRS 645B.050 is hereby amended to read as follows:
10-12 645B.050 1. A license as a mortgage broker issued pursuant
10-13 to this chapter expires each year on June 30, unless it is renewed. To
10-14 renew such a license, the licensee must submit to the Commissioner
10-15 on or before June 30 of each year:
10-16 (a) An application for renewal;
10-17 (b) The fee required to renew the license pursuant to this
10-18 section; and
10-19 (c) The information required pursuant to NRS 645B.051.
10-20 2. If the licensee fails to submit any item required pursuant to
10-21 subsection 1 to the Commissioner on or before June 30 of any year,
10-22 the license is cancelled. The Commissioner may reinstate a
10-23 cancelled license if the licensee submits to the Commissioner:
10-24 (a) An application for renewal;
10-25 (b) The fee required to renew the license pursuant to this
10-26 section;
10-27 (c) The information required pursuant to NRS 645B.051; and
10-28 (d) Except as otherwise provided in this section, a reinstatement
10-29 fee of $200.
10-30 3. Except as otherwise provided in NRS 645B.016, a certificate
10-31 of exemption issued pursuant to this chapter expires each year on
10-32 December 31, unless it is renewed. To renew a certificate of
10-33 exemption, a person must submit to the Commissioner on or before
10-34 December 31 of each year:
10-35 (a) An application for renewal that includes satisfactory proof
10-36 that the person meets the requirements for an exemption from the
10-37 provisions of this chapter; and
10-38 (b) The fee required to renew the certificate of exemption.
10-39 4. If the person fails to submit any item required pursuant to
10-40 subsection 3 to the Commissioner on or before December 31 of any
10-41 year, the certificate of exemption is cancelled. Except as otherwise
10-42 provided in NRS 645B.016, the Commissioner may reinstate a
10-43 cancelled certificate of exemption if the person submits to the
10-44 Commissioner:
11-1 (a) An application for renewal that includes satisfactory proof
11-2 that the person meets the requirements for an exemption from the
11-3 provisions of this chapter;
11-4 (b) The fee required to renew the certificate of exemption; and
11-5 (c) Except as otherwise provided in this section, a reinstatement
11-6 fee of $100.
11-7 5. Except as otherwise provided in this section, a person must
11-8 pay the following fees to apply for, to be issued or to renew a
11-9 license as a mortgage broker pursuant to this chapter:
11-10 (a) To file an original application for a license, $1,500 for the
11-11 principal office and $40 for each branch office. The person must
11-12 also pay such additional expenses incurred in the process of
11-13 investigation as the Commissioner deems necessary. All money
11-14 received by the Commissioner pursuant to this paragraph must be
11-15 placed in the Investigative Account created by NRS 232.545.
11-16 (b) To be issued a license, $1,000 for the principal office and
11-17 $60 for each branch office.
11-18 (c) To renew a license, $500 for the principal office and $100
11-19 for each branch office.
11-20 6. Except as otherwise provided in this section, a person must
11-21 pay the following fees to apply for or to renew a certificate of
11-22 exemption pursuant to this chapter:
11-23 (a) To file an application for a certificate of exemption, $200.
11-24 (b) To renew a certificate of exemption, $100.
11-25 7. To be issued a duplicate copy of any license or certificate of
11-26 exemption, a person must make a satisfactory showing of its loss
11-27 and pay a fee of $10.
11-28 8. Except as otherwise provided in this chapter, all fees
11-29 received pursuant to this chapter must be deposited in the State
11-30 Treasury for credit to the State General Fund.
11-31 9. The Commissioner may, by regulation, increase any fee set
11-32 forth in this section if the Commissioner determines that such an
11-33 increase is necessary for the Commissioner to carry out his duties
11-34 pursuant to this chapter. The amount of any increase in a fee
11-35 pursuant to this subsection must not exceed the amount determined
11-36 to be necessary for the Commissioner to carry out his duties
11-37 pursuant to this chapter.
11-38 Sec. 17. NRS 645B.051 is hereby amended to read as follows:
11-39 645B.051 1. [In] Except as otherwise provided in this
11-40 section, in addition to the requirements set forth in NRS 645B.050,
11-41 to renew a license[:] as a mortgage broker:
11-42 (a) If the licensee is a natural person, the licensee must submit to
11-43 the Commissioner satisfactory proof that the licensee attended at
11-44 least [5] 10 hours of certified courses of continuing education during
12-1 the 12 months immediately preceding the date on which the license
12-2 expires.
12-3 (b) If the licensee is not a natural person, the licensee must
12-4 submit to the Commissioner satisfactory proof that each natural
12-5 person who supervises the daily business of the licensee attended at
12-6 least [5] 10 hours of certified courses of continuing education during
12-7 the 12 months immediately preceding the date on which the license
12-8 expires.
12-9 2. The Commissioner may provide by regulation that a
12-10 certified course of continuing education attended during a 12-
12-11 month period, but not needed to satisfy a requirement set forth in
12-12 this section for the 12-month period in which the course was
12-13 taken, may be used to satisfy a requirement set forth in this section
12-14 for a later 12-month period.
12-15 3. As used in this section, “certified course of continuing
12-16 education” means a course of continuing education which relates to
12-17 the mortgage industry or mortgage transactions and which is [:
12-18 (a) Certified by the] certified by:
12-19 (a) The Board;
12-20 (b) The National Association of Mortgage Brokers or any
12-21 successor in interest to that organization; or
12-22 [(b) Certified in a manner established by the Commissioner, if
12-23 the National Association of Mortgage Brokers or any successor in
12-24 interest to that organization ceases to exist.]
12-25 (c) Any organization designated for this purpose by the Board
12-26 by regulation.
12-27 Sec. 18. NRS 645B.060 is hereby amended to read as follows:
12-28 645B.060 1. [Subject] In accordance with the policies,
12-29 standards and directions of the Board with regard to the
12-30 administration and enforcement of this chapter, but subject to the
12-31 administrative control of the Director of the Department of Business
12-32 and Industry [,] with regard to the administration of the Division,
12-33 the Commissioner shall exercise general supervision and control
12-34 over mortgage brokers doing business in this state.
12-35 2. In addition to the other duties imposed upon him by law, the
12-36 Commissioner shall:
12-37 (a) Adopt any regulations that are necessary to carry out the
12-38 provisions of this chapter, except as to loan brokerage fees.
12-39 (b) Conduct such investigations as may be necessary to
12-40 determine whether any person has violated any provision of this
12-41 chapter, a regulation adopted pursuant to this chapter or an order of
12-42 the Commissioner.
12-43 (c) Conduct an annual examination of each mortgage broker
12-44 doing business in this state. The annual examination must include,
13-1 without limitation, a formal exit review with the mortgage broker.
13-2 The Commissioner shall adopt regulations prescribing:
13-3 (1) Standards for determining the rating of each mortgage
13-4 broker based upon the results of the annual examination; and
13-5 (2) Procedures for resolving any objections made by the
13-6 mortgage broker to the results of the annual examination. The
13-7 results of the annual examination may not be opened to public
13-8 inspection pursuant to NRS 645B.090 until any objections made by
13-9 the mortgage broker have been decided by the Commissioner.
13-10 (d) Conduct such other examinations, periodic or special audits,
13-11 investigations and hearings as may be necessary and proper for the
13-12 efficient administration of the laws of this state regarding mortgage
13-13 brokers and mortgage agents. The Commissioner shall adopt
13-14 regulations specifying the general guidelines that will be followed
13-15 when a periodic or special audit of a mortgage broker is conducted
13-16 pursuant to this chapter.
13-17 (e) Classify as confidential certain records and information
13-18 obtained by the Division when those matters are obtained from a
13-19 governmental agency upon the express condition that they remain
13-20 confidential. This paragraph does not limit examination by the
13-21 Legislative Auditor.
13-22 (f) Conduct such examinations and investigations as are
13-23 necessary to ensure that mortgage brokers and mortgage agents
13-24 meet the requirements of this chapter for obtaining a license, both at
13-25 the time of the application for a license and thereafter on a
13-26 continuing basis.
13-27 3. For each special audit, investigation or examination, a
13-28 mortgage broker or mortgage agent shall pay a fee based on the rate
13-29 established pursuant to NRS 658.101.
13-30 Sec. 19. NRS 645B.450 is hereby amended to read as follows:
13-31 645B.450 1. A person [shall not act as or provide any of the
13-32 services of a mortgage agent or otherwise engage in, carry on or
13-33 hold himself out as engaging in or carrying on the activities of a
13-34 mortgage agent if the person:
13-35 (a) Has been convicted of, or entered a plea of nolo contendere
13-36 to, a felony or any crime involving fraud, misrepresentation or
13-37 moral turpitude; or
13-38 (b) Has had a financial services license or registration suspended
13-39 or revoked within the immediately preceding 10 years.] may not be
13-40 registered pursuant to this section unless he has been issued a
13-41 license as a mortgage agent pursuant to section 5 of this act.
13-42 2. A mortgage agent may not be associated with or employed
13-43 by more than one mortgage broker at the same time.
13-44 3. A mortgage broker shall register with the Division each
13-45 person who will be associated with or employed by the mortgage
14-1 broker as a mortgage agent. A mortgage broker shall register each
14-2 such person with the Division when the person begins his
14-3 association or employment with the mortgage broker and annually
14-4 thereafter. A registration expires 12 months after its effective date.
14-5 4. To register a person as a mortgage agent, a mortgage broker
14-6 must[:
14-7 (a) Submit] submit to the Division a registration form which is
14-8 provided by the Division and which:
14-9 [(1)] (a) States the name, residence address and business
14-10 address of the person;
14-11 [(2)] (b) Is signed by the person;
14-12 [(3) Includes a provision by which the person gives his
14-13 written consent to an investigation of his credit history, criminal
14-14 history and background; and
14-15 (4)] and
14-16 (c) Includes any other information or supporting materials
14-17 required by the regulations adopted by the Commissioner. [Such
14-18 information or supporting materials may include, without limitation,
14-19 a complete set of fingerprints from the person, the social security
14-20 number of the person and other forms of identification of the person.
14-21 (b) For each initial registration, pay the actual costs and
14-22 expenses incurred by the Division to investigate the credit history,
14-23 criminal history and background of the person. All money received
14-24 pursuant to this paragraph must be placed in the Investigative
14-25 Account created by NRS 232.545.
14-26 (c) For each annual registration, submit to the Division
14-27 satisfactory proof that the person attended at least 5 hours of
14-28 certified courses of continuing education during the 12 months
14-29 immediately preceding the date on which the registration expires.
14-30 5. Not later than the date on which the mortgage broker
14-31 submits the information for annual registration required by
14-32 subsection 4, the person being registered shall pay an annual
14-33 registration fee of $125. If the person does not pay the annual
14-34 registration fee, the person shall be deemed to be unregistered for
14-35 the purposes of this chapter.
14-36 6.] 5. A mortgage broker shall not employ a person as a
14-37 mortgage agent or authorize a person to be associated with the
14-38 mortgage broker as a mortgage agent if the mortgage broker has not
14-39 registered the person with the Division pursuant to this section . [or
14-40 if the person:
14-41 (a) Has been convicted of, or entered a plea of nolo contendere
14-42 to, a felony or any crime involving fraud, misrepresentation or
14-43 moral turpitude; or
14-44 (b) Has had a financial services license or registration suspended
14-45 or revoked within the immediately preceding 10 years.
15-1 7.] 6. If a mortgage agent terminates his association or
15-2 employment with a mortgage broker for any reason, the mortgage
15-3 broker shall, not later than the third business day following the date
15-4 of termination:
15-5 (a) Deliver to the mortgage agent or send by certified mail to the
15-6 last known residence address of the mortgage agent a written
15-7 statement which advises him that his termination is being reported
15-8 to the Division; and
15-9 (b) Deliver or send by certified mail to the Division:
15-10 (1) A written statement of the circumstances surrounding the
15-11 termination; and
15-12 (2) A copy of the written statement that the mortgage broker
15-13 delivers or mails to the mortgage agent pursuant to paragraph (a).
15-14 [8. As used in this section, “certified course of continuing
15-15 education” has the meaning ascribed to it in NRS 645B.051.]
15-16 7. As used in this section, “mortgage broker” includes, to the
15-17 extent consistent with federal law, a person who is required to
15-18 apply for a certificate of exemption or who holds a certificate of
15-19 exemption.
15-20 Sec. 20. NRS 645B.620 is hereby amended to read as follows:
15-21 645B.620 1. Whether or not a complaint has been filed, the
15-22 Commissioner shall investigate a mortgage broker , mortgage agent
15-23 or other person if, for any reason, it appears that:
15-24 (a) The mortgage broker or mortgage agent is conducting
15-25 business in an unsafe and injurious manner or in violation of any
15-26 provision of this chapter, a regulation adopted pursuant to this
15-27 chapter or an order of the Commissioner;
15-28 (b) The person is offering or providing any of the services of a
15-29 mortgage broker or mortgage agent or otherwise engaging in,
15-30 carrying on or holding himself out as engaging in or carrying on the
15-31 business of a mortgage broker or mortgage agent without being
15-32 appropriately licensed or exempt from licensing pursuant to the
15-33 provisions of this chapter; or
15-34 (c) The person is violating any other provision of this chapter, a
15-35 regulation adopted pursuant to this chapter or an order of the
15-36 Commissioner.
15-37 2. If, upon investigation, the Commissioner has reasonable
15-38 cause to believe that the mortgage broker , mortgage agent or other
15-39 person has engaged in any conduct or committed any violation
15-40 described in subsection 1:
15-41 (a) The Commissioner shall notify the Attorney General of the
15-42 conduct or violation and, if applicable, the Commissioner shall
15-43 immediately take possession of the property of the mortgage broker
15-44 pursuant to NRS 645B.630; and
15-45 (b) The Attorney General shall, if appropriate:
16-1 (1) Investigate and prosecute the mortgage broker , mortgage
16-2 agent or other person pursuant to NRS 645B.800; and
16-3 (2) Bring a civil action to:
16-4 (I) Enjoin the mortgage broker , mortgage agent or other
16-5 person from engaging in the conduct, operating the business or
16-6 committing the violation; and
16-7 (II) Enjoin any other person who has encouraged,
16-8 facilitated, aided or participated in the conduct, the operation of the
16-9 business or the commission of the violation, or who is likely to
16-10 engage in such acts, from engaging in or continuing to engage in
16-11 such acts.
16-12 3. If the Attorney General brings a civil action pursuant to
16-13 subsection 2, the district court of any county of this state is hereby
16-14 vested with the jurisdiction in equity to enjoin the conduct, the
16-15 operation of the business or the commission of the violation and
16-16 may grant any injunctions that are necessary to prevent and restrain
16-17 the conduct, the operation of the business or the commission of the
16-18 violation. During the pendency of the proceedings before the district
16-19 court:
16-20 (a) The court may issue any temporary restraining orders as may
16-21 appear to be just and proper;
16-22 (b) The findings of the Commissioner shall be deemed to be
16-23 prima facie evidence and sufficient grounds, in the discretion of the
16-24 court, for the ex parte issuance of a temporary restraining order; and
16-25 (c) The Attorney General may apply for and on due showing is
16-26 entitled to have issued the court’s subpoena requiring forthwith the
16-27 appearance of any person to:
16-28 (1) Produce any documents, books and records as may
16-29 appear necessary for the hearing of the petition; and
16-30 (2) Testify and give evidence concerning the conduct
16-31 complained of in the petition.
16-32 Sec. 21. NRS 645B.670 is hereby amended to read as follows:
16-33 645B.670 Except as otherwise provided in NRS 645B.690:
16-34 1. For each violation committed by an applicant[,] for a
16-35 license pursuant to this chapter, whether or not he is issued a
16-36 license, the Commissioner may impose upon the applicant an
16-37 administrative fine of not more than $10,000, if the applicant:
16-38 (a) Has knowingly made or caused to be made to the
16-39 Commissioner any false representation of material fact;
16-40 (b) Has suppressed or withheld from the Commissioner any
16-41 information which the applicant possesses and which, if submitted
16-42 by him, would have rendered the applicant ineligible to be licensed
16-43 pursuant to the provisions of this chapter; or
16-44 (c) Has violated any provision of this chapter, a regulation
16-45 adopted pursuant to this chapter or an order of the Commissioner in
17-1 completing and filing his application for a license or during the
17-2 course of the investigation of his application for a license.
17-3 2. For each violation committed by a licensee, the
17-4 Commissioner may impose upon the licensee an administrative fine
17-5 of not more than $10,000, may suspend, revoke or place conditions
17-6 upon his license, or may do both, if the licensee, whether or not
17-7 acting as such:
17-8 (a) Is insolvent;
17-9 (b) Is grossly negligent or incompetent in performing any act for
17-10 which he is required to be licensed pursuant to the provisions of this
17-11 chapter;
17-12 (c) Does not conduct his business in accordance with law or has
17-13 violated any provision of this chapter, a regulation adopted pursuant
17-14 to this chapter or an order of the Commissioner;
17-15 (d) Is in such financial condition that he cannot continue in
17-16 business with safety to his customers;
17-17 (e) Has made a material misrepresentation in connection with
17-18 any transaction governed by this chapter;
17-19 (f) Has suppressed or withheld from a client any material facts,
17-20 data or other information relating to any transaction governed by the
17-21 provisions of this chapter which the licensee knew or, by the
17-22 exercise of reasonable diligence, should have known;
17-23 (g) Has knowingly made or caused to be made to the
17-24 Commissioner any false representation of material fact or has
17-25 suppressed or withheld from the Commissioner any information
17-26 which the licensee possesses and which, if submitted by him, would
17-27 have rendered the licensee ineligible to be licensed pursuant to the
17-28 provisions of this chapter;
17-29 (h) Has failed to account to persons interested for all money
17-30 received for a trust account;
17-31 (i) Has refused to permit an examination by the Commissioner
17-32 of his books and affairs or has refused or failed, within a reasonable
17-33 time, to furnish any information or make any report that may be
17-34 required by the Commissioner pursuant to the provisions of this
17-35 chapter or a regulation adopted pursuant to this chapter;
17-36 (j) Has been convicted of, or entered a plea of nolo contendere
17-37 to, a felony or any crime involving fraud, misrepresentation or
17-38 moral turpitude;
17-39 (k) Has refused or failed to pay, within a reasonable time, any
17-40 fees, assessments, costs or expenses that the licensee is required to
17-41 pay pursuant to this chapter or a regulation adopted pursuant to this
17-42 chapter;
17-43 (l) Has failed to satisfy a claim made by a client which has been
17-44 reduced to judgment;
18-1 (m) Has failed to account for or to remit any money of a client
18-2 within a reasonable time after a request for an accounting or
18-3 remittal;
18-4 (n) Has commingled the money or other property of a client
18-5 with his own or has converted the money or property of others to his
18-6 own use;
18-7 (o) Has engaged in any other conduct constituting a deceitful,
18-8 fraudulent or dishonest business practice;
18-9 (p) Has repeatedly violated the policies and procedures of the
18-10 mortgage broker;
18-11 (q) Has failed to exercise reasonable supervision over the
18-12 activities of a mortgage agent as required by NRS 645B.460;
18-13 (r) Has instructed a mortgage agent to commit an act that would
18-14 be cause for the revocation of the license of the mortgage broker,
18-15 whether or not the mortgage agent commits the act;
18-16 (s) Has employed a person as a mortgage agent or authorized a
18-17 person to be associated with the licensee as a mortgage agent at a
18-18 time when the licensee knew or, in light of all the surrounding facts
18-19 and circumstances, reasonably should have known that the person:
18-20 (1) Had been convicted of, or entered a plea of nolo
18-21 contendere to, a felony or any crime involving fraud,
18-22 misrepresentation or moral turpitude; or
18-23 (2) Had a financial services license or registration suspended
18-24 or revoked within the immediately preceding 10 years; or
18-25 (t) Has not conducted verifiable business as a mortgage broker
18-26 for 12 consecutive months, except in the case of a new applicant.
18-27 The Commissioner shall determine whether a mortgage broker is
18-28 conducting business by examining the monthly reports of activity
18-29 submitted by the licensee or by conducting an examination of the
18-30 licensee.
18-31 Sec. 22. NRS 645B.680 is hereby amended to read as follows:
18-32 645B.680 1. If the Commissioner receives a copy of a court
18-33 order issued pursuant to NRS 425.540 that provides for the
18-34 suspension of all professional, occupational and recreational
18-35 licenses, certificates and permits issued to a person who is the
18-36 holder of a license as a mortgage broker[,] or mortgage agent, the
18-37 Commissioner shall deem the license issued to that person to be
18-38 suspended at the end of the 30th day after the date on which the
18-39 court order was issued unless the Commissioner receives a letter
18-40 issued to the holder of the license by the district attorney or other
18-41 public agency pursuant to NRS 425.550 stating that the holder of the
18-42 license has complied with the subpoena or warrant or has satisfied
18-43 the arrearage pursuant to NRS 425.560.
18-44 2. The Commissioner shall reinstate a license as a mortgage
18-45 broker or mortgage agent that has been suspended by a district
19-1 court pursuant to NRS 425.540 if the Commissioner receives a letter
19-2 issued by the district attorney or other public agency pursuant to
19-3 NRS 425.550 to the person whose license was suspended stating
19-4 that the person whose license was suspended has complied with the
19-5 subpoena or warrant or has satisfied the arrearage pursuant to
19-6 NRS 425.560.
19-7 Sec. 23. NRS 645B.690 is hereby amended to read as follows:
19-8 645B.690 1. If a person offers or provides any of the services
19-9 of a mortgage broker or mortgage agent or otherwise engages in,
19-10 carries on or holds himself out as engaging in or carrying on the
19-11 business of a mortgage broker or mortgage agent and, at the time:
19-12 (a) The person was required to have a license pursuant to this
19-13 chapter and the person did not have such a license; or
19-14 (b) The person’s license was suspended or revoked pursuant to
19-15 this chapter,
19-16 the Commissioner shall impose upon the person an administrative
19-17 fine of not more than $10,000 for each violation and, if the person
19-18 has a license, the Commissioner shall revoke it.
19-19 2. If a person is exempt from the provisions of this chapter
19-20 pursuant to subsection 6 of NRS 645B.015 and the person, while
19-21 exempt, maintains, offers to maintain or holds himself out as
19-22 maintaining any accounts described in subsection 1 of NRS
19-23 645B.175 or otherwise engages in, offers to engage in or holds
19-24 himself out as engaging in any activity that would remove the
19-25 person from the exemption set forth in subsection 6 of NRS
19-26 645B.015, the Commissioner shall impose upon the person an
19-27 administrative fine of not more than $10,000 for each violation and
19-28 the Commissioner shall revoke the person’s exemption. If the
19-29 Commissioner revokes an exemption pursuant to this subsection, the
19-30 person may not again be granted the same or a similar exemption
19-31 from the provisions of this chapter. The person may apply for a
19-32 license pursuant to this chapter unless otherwise prohibited by
19-33 specific statute.
19-34 3. If a mortgage broker violates any provision of subsection 1
19-35 of NRS 645B.080 and the mortgage broker fails, without reasonable
19-36 cause, to remedy the violation within 20 business days after being
19-37 ordered by the Commissioner to do so or within such later time as
19-38 prescribed by the Commissioner, or if the Commissioner orders a
19-39 mortgage broker to provide information, make a report or permit an
19-40 examination of his books or affairs pursuant to this chapter and the
19-41 mortgage broker fails, without reasonable cause, to comply with the
19-42 order within 20 business days or within such later time as prescribed
19-43 by the Commissioner, the Commissioner shall:
19-44 (a) Impose upon the mortgage broker an administrative fine of
19-45 not more than $10,000 for each violation;
20-1 (b) Suspend or revoke the license of the mortgage broker; and
20-2 (c) Conduct a hearing to determine whether the mortgage broker
20-3 is conducting business in an unsafe and injurious manner that may
20-4 result in danger to the public and whether it is necessary for the
20-5 Commissioner to take possession of the property of the mortgage
20-6 broker pursuant to NRS 645B.630.
20-7 Sec. 24. NRS 645B.900 is hereby amended to read as follows:
20-8 645B.900 It is unlawful for any person to offer or provide any
20-9 of the services of a mortgage broker or mortgage agent or otherwise
20-10 to engage in, carry on or hold himself out as engaging in or carrying
20-11 on the business of a mortgage broker or mortgage agent without
20-12 first obtaining [a license as a mortgage broker] the applicable
20-13 license pursuant to this chapter, unless the person:
20-14 1. Is exempt from the provisions of this chapter; and
20-15 2. Complies with the requirements for that exemption.
20-16 Sec. 25. NRS 645B.0103 is hereby repealed.
20-17 Sec. 26. 1. On October 1, 2003, the Commissioner of
20-18 Financial Institutions may begin accepting applications for, and
20-19 issuing, licenses as mortgage agents pursuant to section 5 of this act.
20-20 Any such license issued on or before July 1, 2004:
20-21 (a) Becomes effective on July 1, 2004; and
20-22 (b) Notwithstanding the provisions of section 6 of this act to the
20-23 contrary, expires on a date between July 1, 2004, and June 30, 2005,
20-24 as specified in a written notice provided with the license to the
20-25 mortgage agent. The Board for the Regulation of Mortgage Brokers
20-26 and Mortgage Agents shall direct the Commissioner of Financial
20-27 Institutions to provide various expiration dates for the licenses
20-28 issued on or before July 1, 2004, as needed to allow for the efficient
20-29 administration of the requirements of this act. The fee required for
20-30 such a license that is effective for less than one year must be
20-31 prorated in an appropriate manner as determined by the Board for
20-32 the Regulation of Mortgage Brokers and Mortgage Agents.
20-33 2. On July 1, 2004, the registration of a mortgage agent who is
20-34 registered pursuant to NRS 645B.450 expires unless the mortgage
20-35 agent has obtained a license as a mortgage agent issued pursuant to
20-36 section 5 of this act.
20-37 3. As used in this section, “mortgage agent” has the meaning
20-38 ascribed to it in NRS 645B.0125.
20-39 Sec. 27. 1. Notwithstanding any provision to the contrary in
20-40 section 8 of this act, the initial members and Chairman of the Board
20-41 for the Regulation of Mortgage Brokers and Mortgage Agents
20-42 created by section 8 of this act must be appointed pursuant to this
20-43 section not later than January 1, 2004.
20-44 2. The Governor shall appoint to the Board:
21-1 (a) One member who holds a license as a mortgage broker or
21-2 mortgage agent and whose term expires on July 1, 2005.
21-3 (b) One member who is a representative of the general public
21-4 and whose terms expires on July 1, 2005.
21-5 (c) One member who holds a license as a mortgage broker or
21-6 mortgage agent and whose term expires on July 1, 2006.
21-7 3. The Speaker of the Assembly and the Majority Leader of the
21-8 Senate shall each appoint to the Board one member who must
21-9 possess knowledge of the field of financial services and whose term
21-10 expires on July 1, 2006.
21-11 4. Not later than January 1, 2004, the Governor shall appoint a
21-12 Chairman from among the initial members of the Board.
21-13 Sec. 28. 1. This section becomes effective upon passage and
21-14 approval.
21-15 2. Sections 1 to 15, inclusive, and 17 to 27, inclusive, of this
21-16 act become effective upon passage and approval for the purposes of
21-17 adopting regulations, appointing members to the Board for the
21-18 Regulation of Mortgage Brokers and Mortgage Agents created by
21-19 section 8 of this act, and performing any other preparatory
21-20 administrative tasks that are necessary to carry out the provisions of
21-21 this act, and:
21-22 (a) Sections 1 and 3 of this act become effective on October 1,
21-23 2003, for all other purposes.
21-24 (b) Sections 2, 4 to 15, inclusive, and 17 to 27, inclusive, of this
21-25 act become effective on July 1, 2004, for all other purposes.
21-26 3. Sections 7, 15 and 22 of this act expire by limitation on the
21-27 date on which the provisions of 42 U.S.C. § 666 requiring each state
21-28 to establish procedures under which the State has authority to
21-29 withhold or suspend, or to restrict the use of professional,
21-30 occupational and recreational licenses of persons who:
21-31 (a) Have failed to comply with a subpoena or warrant relating to
21-32 a proceeding to determine the paternity of a child or to establish or
21-33 enforce an obligation for the support of a child; or
21-34 (b) Are in arrears in the payment for the support of one or more
21-35 children,
21-36 are repealed by the Congress of the United States.
21-37 4. Section 16 of this act becomes effective on the date on
21-38 which the provisions of 42 U.S.C. § 666 requiring each state to
21-39 establish procedures under which the State has authority to withhold
21-40 or suspend, or to restrict the use of professional, occupational and
21-41 recreational licenses of persons who:
21-42 (a) Have failed to comply with a subpoena or warrant relating to
21-43 a proceeding to determine the paternity of a child or to establish or
21-44 enforce an obligation for the support of a child; or
22-1 (b) Are in arrears in the payment for the support of one or more
22-2 children,
22-3 are repealed by the Congress of the United States.
22-4 TEXT OF REPEALED SECTION
22-5 645B.0103 “Applicant” defined. “Applicant” means a
22-6 person who applies for licensure as a mortgage broker pursuant to
22-7 this chapter.
22-8 H