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2016 SESSION

• | print version

HB 125 Mortgage loan originators; inactive licenses.

Introduced by: Daniel W. Marshall, III | all patrons    ...    notes | add to my profiles

SUMMARY AS INTRODUCED:

Mortgage loan originators; inactive licenses. Authorizes the State Corporation Commission (SCC) to issue an inactive mortgage loan originator license to an individual who has satisfied all requirements for licensure except those pertaining to his surety bond. Similarly, the measure authorizes the SCC to renew, on an inactive basis, the mortgage loan originator license of an individual who has satisfied all requirements for license renewal except those pertaining to his surety bond. A licensee with an inactive license is prohibited from engaging in the business of a mortgage loan originator until the SCC determines that the bonding requirements have been satisfied and has updated his status in the Nationwide Mortgage Licensing System and Registry.

FULL TEXT

• 12/16/15  House: Prefiled and ordered printed; offered 01/13/16 16101954D  pdf | impact statement
• 02/29/16  House: Bill text as passed House and Senate (HB125ER)  pdf | impact statement
• 03/11/16  Governor: Acts of Assembly Chapter text (CHAP0330)  pdf

HISTORY

• 12/16/15  House: Prefiled and ordered printed; offered 01/13/16 16101954D
• 12/16/15  House: Referred to Committee on Commerce and Labor
• 01/19/16  House: Reported from Commerce and Labor (21-Y 0-N)
• 01/21/16  House: Read first time
• 01/25/16  House: Read second time and engrossed
• 01/26/16  House: Read third time and passed House BLOCK VOTE (98-Y 0-N)
• 01/26/16  House: VOTE: BLOCK VOTE PASSAGE (98-Y 0-N)
• 01/27/16  Senate: Constitutional reading dispensed
• 01/27/16  Senate: Referred to Committee on Commerce and Labor
• 02/22/16  Senate: Reported from Commerce and Labor (15-Y 0-N)
• 02/24/16  Senate: Constitutional reading dispensed (39-Y 0-N)
• 02/25/16  Senate: Read third time
• 02/25/16  Senate: Passed Senate (40-Y 0-N)
• 02/29/16  House: Enrolled
• 02/29/16  House: Bill text as passed House and Senate (HB125ER)
• 02/29/16  House: Signed by Speaker
• 03/03/16  Senate: Signed by President
• 03/04/16  House: Enrolled Bill communicated to Governor on 3/4/16
• 03/04/16  Governor: Governor's Action Deadline Midnight, March 11, 2016
• 03/11/16  Governor: Approved by Governor-Chapter 330 (effective 7/1/16)
• 03/11/16  Governor: Acts of Assembly Chapter text (CHAP0330)