reglab/housing_qa huggingface dataset:
AK Stat § 06.60.400 (2021)
2021 Alaska Statutes|Title 6. Banks and Financial Institutions|Chapter 60. Mortgage Licensing|Article 6. Enforcement.|Sec. 06.60.400. Cease and desist proceedings.

(a) Notwithstanding AS 06.01.030(d) and (e), if the department finds, after notice and opportunity for a hearing, that a person has violated, is violating, or is about to violate any provision of this chapter, a regulation adopted under this chapter, or an order issued under this chapter, the department may publish findings and enter an order requiring the person to cease and desist from committing or causing the violation and any future violation of the same provision or regulation. An order may, in addition to requiring a person to cease and desist from committing or causing a violation, require the person to comply, or to take steps to effect compliance, with a provision or regulation, on terms and conditions and within a time, as the department may specify in the order. An order may require future compliance or steps to result in future compliance, either permanently or for a period of time, as the department may specify. (b) Notwithstanding AS 06.01.030(d) and (e), if the department determines that the alleged violation or threatened violation is likely to result in significant dissipation or conversion of assets, significant harm to consumers, or substantial harm to the public interest before the completion of cease and desist proceedings, the department may enter a temporary order requiring the respondent to cease and desist from the violation or threatened violation and to take action to prevent the violation or threatened violation and to prevent dissipation or conversion of assets, significant harm to consumers, or substantial harm to the public interest as the department determines appropriate pending completion of the proceedings. A temporary order may be entered only after notice and opportunity for a hearing, unless the department determines that notice and hearing before entry would be impracticable or contrary to the public interest. A temporary order becomes effective on service on the respondent and, unless set aside, limited, or suspended by the department or a court of competent jurisdiction, remains effective and enforceable pending the completion of the cease and desist proceedings.
AK Stat § 06.60.405 (2021)
2021 Alaska Statutes|Title 6. Banks and Financial Institutions|Chapter 60. Mortgage Licensing|Article 6. Enforcement.|Sec. 06.60.405. Review of temporary cease and desist orders.

(a) At any time after the respondent has been served with a temporary cease and desist order under AS 06.60.400(b), the respondent may apply to the department to have the order set aside, limited, or suspended. If the respondent has been served with a temporary cease and desist order entered without a prior hearing, the respondent may, within 10 days after the date on which the order was served, request a hearing on the application, and the office of administrative hearings shall hold a hearing and render a decision on the application under AS 44.64.060. A respondent served with a temporary cease and desist order entered without a prior hearing may not apply to the court except after hearing and decision by the department on the respondent's application under this subsection. (b) The commencement of proceedings under this section does not, unless specifically ordered by the court, operate as a stay of the department's order. (c) In a cease and desist proceeding under this section, the department may issue an order to prohibit, conditionally or unconditionally, permanently or for a period of time the department determines, a person who has violated this chapter from operating as a mortgage lender, mortgage broker, or mortgage loan originator if the conduct of that person demonstrates unfitness to operate as a mortgage lender, mortgage broker, or mortgage loan originator.
AK Stat § 06.60.410 (2021)
2021 Alaska Statutes|Title 6. Banks and Financial Institutions|Chapter 60. Mortgage Licensing|Article 6. Enforcement.|Sec. 06.60.410. Censure, suspension, or bar.

(a) In addition to any other remedy provided under this chapter, the department may, by order after appropriate notice and opportunity for a hearing, censure a person, suspend the license of a person for a period not to exceed 12 months, or bar a person from a position of employment, management, or control of a licensee or registered depository institution if the department finds that (1) the censure, suspension, or bar is in the public interest; (2) the person has knowingly committed or caused a violation of this chapter or a regulation adopted under this chapter; and (3) the violation has caused material damage to the licensee, to the registered depository institution, or to the public. (b) When a person who is the subject of a proposed order under this section receives a notice of the department's intention to issue an order under this section, the person is immediately prohibited from engaging in any activities for which a license is required under this chapter or for which registration is required under AS 06.60.014. (c) A person who is suspended or barred under this section is prohibited from participating in a business activity of a licensee or registered depository institution and from engaging in a business activity on the premises where a licensee or registered depository institution is conducting the business of a licensee or registered depository institution. This subsection may not be construed to prohibit a suspended or barred person from having the person's personal transactions processed by a licensee or registered depository institution.
AK Stat § 06.60.420 (2021)
2021 Alaska Statutes|Title 6. Banks and Financial Institutions|Chapter 60. Mortgage Licensing|Article 6. Enforcement.|Sec. 06.60.420. Civil penalty for violations.

(a) Notwithstanding AS 06.01.035, a person who violates a provision of this chapter, or a regulation adopted or an order issued under this chapter, is liable for a civil penalty not to exceed $10,000 for each violation. (b) The remedies provided by this section and by other sections of this chapter are not exclusive and may be sought in combination with other remedies to enforce the provisions of this chapter.
AK Stat § 06.60.430 (2021)
2021 Alaska Statutes|Title 6. Banks and Financial Institutions|Chapter 60. Mortgage Licensing|Article 6. Enforcement.|Sec. 06.60.430. Additional enforcement provisions, actions, and rights.

(a) The department may treat a licensee as a financial institution under AS 06.01 when applying the enforcement provisions of AS 06.01. (b) This chapter may not be interpreted to prevent the attorney general or any other person from exercising the rights provided under AS 45.50.471 - 45.50.561. (c) If the department determines that a licensee or a person acting on behalf of the licensee is in violation of, or has violated, a provision of this chapter, the department may refer the information to the attorney general and request that the attorney general investigate the violation under AS 45.50.495. The attorney general may enjoin a violation of this chapter and may seek restitution, rescission, and other relief as allowed by law. (d) In addition to another investigation allowed under this chapter, the department may conduct other examinations, periodic audits, special audits, investigations, and hearings as may be necessary and proper for the efficient administration of this chapter.
AK Stat § 06.60.500 (2021)
2021 Alaska Statutes|Title 6. Banks and Financial Institutions|Chapter 60. Mortgage Licensing|Article 7. Originator Surety Fund.|Sec. 06.60.500. Mortgage loan originator surety fund.

The mortgage loan originator surety fund is established as a separate account in the general fund. The purpose of the fund is to pay fund claims against mortgage loan originator licensees.
AK Stat § 06.60.510 (2021)
2021 Alaska Statutes|Title 6. Banks and Financial Institutions|Chapter 60. Mortgage Licensing|Article 7. Originator Surety Fund.|Sec. 06.60.510. Composition of fund.

The fund consists of appropriations of payments made by mortgage loan originator licensees under AS 06.60.550, filing fees for fund claims retained under AS 06.60.620, income earned on the investment of the money in the fund, and money deposited in the fund by the department under AS 06.60.740.
AK Stat § 06.60.520 (2021)
2021 Alaska Statutes|Title 6. Banks and Financial Institutions|Chapter 60. Mortgage Licensing|Article 7. Originator Surety Fund.|Sec. 06.60.520. Use of fund.

The legislature may appropriate the money collected in the fund under AS 06.60.510 to the department to implement AS 06.60.500 - 06.60.750, including paying claims, holding hearings, and incurring legal expenses and other expenses directly related to fund claims and the operation of the fund. Nothing in AS 06.60.500 - 06.60.750 creates a dedicated fund.
AK Stat § 06.60.530 (2021)
2021 Alaska Statutes|Title 6. Banks and Financial Institutions|Chapter 60. Mortgage Licensing|Article 7. Originator Surety Fund.|Sec. 06.60.530. Fund report.

Every six months, the department shall provide a written report to the director of the office of management and budget on the activities of the fund, the balances in the fund, interest earned on the fund, and interest returned to the fund.
AK Stat § 06.60.550 (2021)
2021 Alaska Statutes|Title 6. Banks and Financial Institutions|Chapter 60. Mortgage Licensing|Article 7. Originator Surety Fund.|Sec. 06.60.550. Required fund fees.

(a) A person who applies for or renews a mortgage loan originator license shall pay to the department, in addition to the fees required by AS 06.60.035, a fund fee established by the department. (b) Every two years, if the department determines that the average balance in the fund during the previous two years was less than $250,000 or more than $500,000, the department shall, unless the department waives the adjustment, adjust the fund fee so that the average balance of the fund during the next two years is anticipated to be an amount that is not less than $250,000 or more than $500,000. In this subsection, “average balance” means the average balance in the fund after the department deducts anticipated expenditures for claims against the fund and for hearing and legal expenses directly related to fund operations and claims. (c) At least once a month, the department shall pay the fees collected under this section into the general fund. These payments shall be credited to the fund. (d) Notwithstanding (a) of this section, a mortgage loan originator licensee who obtains an initial mortgage loan originator license when the department has reduced the fund fee to nothing shall nonetheless pay the fund fee established by regulation to the department for the first year of the mortgage loan originator license.
AK Stat § 06.60.560 (2021)
2021 Alaska Statutes|Title 6. Banks and Financial Institutions|Chapter 60. Mortgage Licensing|Article 7. Originator Surety Fund.|Sec. 06.60.560. Claim for reimbursement.

In addition to any other remedies available to the person, a person may seek reimbursement for a loss suffered in a mortgage loan transaction as a result of fraud, misrepresentation, deceit, or the wrongful conversion of money by a mortgage loan originator licensee and is eligible to be reimbursed under AS 06.60.500 - 06.60.750 for the loss from money appropriated for that purpose.
AK Stat § 06.60.570 (2021)
2021 Alaska Statutes|Title 6. Banks and Financial Institutions|Chapter 60. Mortgage Licensing|Article 7. Originator Surety Fund.|Sec. 06.60.570. Submission of fund claim.

To seek reimbursement under AS 06.60.560, a person shall submit a fund claim to the department for the reimbursement on a form furnished by the department. The person must file the fund claim within two years after the occurrence of the fraud, misrepresentation, deceit, or conversion that is claimed as the basis for the reimbursement.
AK Stat § 06.60.580 (2021)
2021 Alaska Statutes|Title 6. Banks and Financial Institutions|Chapter 60. Mortgage Licensing|Article 7. Originator Surety Fund.|Sec. 06.60.580. Form and contents of fund claim.

The form for a fund claim shall be executed under penalty of unsworn falsification in the second degree and must include (1) the name and address of each mortgage loan originator licensee involved; (2) the amount of the alleged loss; (3) the date or period of time during which the alleged loss occurred; (4) the date when the alleged loss was discovered; (5) the name and address of the claimant; and (6) a general statement of the facts related to the fund claim.
AK Stat § 06.60.590 (2021)
2021 Alaska Statutes|Title 6. Banks and Financial Institutions|Chapter 60. Mortgage Licensing|Article 7. Originator Surety Fund.|Sec. 06.60.590. Claim hearing.

Except as otherwise provided by AS 06.60.610, a hearing on a fund claim shall be handled by the office of administrative hearings (AS 44.64.010).
AK Stat § 06.60.600 (2021)
2021 Alaska Statutes|Title 6. Banks and Financial Institutions|Chapter 60. Mortgage Licensing|Article 7. Originator Surety Fund.|Sec. 06.60.600. Filing and distribution of claim.

At least 20 days before a hearing is held on the fund claim by the office of administrative hearings (AS 44.64.010), the department shall send a copy of the claim filed with the department to (1) each mortgage loan originator licensee alleged to have committed the misconduct resulting in the alleged loss; (2) the employer of the mortgage loan originator licensee described in (1) of this section; and (3) any other parties involved in the mortgage loan transaction that is the subject of the fund claim.
AK Stat § 06.60.610 (2021)
2021 Alaska Statutes|Title 6. Banks and Financial Institutions|Chapter 60. Mortgage Licensing|Article 7. Originator Surety Fund.|Sec. 06.60.610. Election to use small claims court.

(a) Within 30 days after receiving a copy of a fund claim under AS 06.60.600, a mortgage loan originator licensee against whom a claim is made may elect to defend the fund claim as a small claims action in district court under District Court Rules of Civil Procedure if the claim does not exceed the small claims jurisdictional limit. (b) A mortgage loan originator licensee who elects under (a) of this section to defend a fund claim in district court under the small claims rules may not revoke the election without the consent of the person who filed the fund claim. (c) On receipt of a valid written election under (a) of this section, the department shall dismiss the fund claim filed with the department and notify the person who filed the fund claim that the person who filed the fund claim must bring a small claims action in the appropriate district court.
AK Stat § 06.60.620 (2021)
2021 Alaska Statutes|Title 6. Banks and Financial Institutions|Chapter 60. Mortgage Licensing|Article 7. Originator Surety Fund.|Sec. 06.60.620. Filing fee.

(a) A person who files a fund claim under AS 06.60.570 shall pay the department a filing fee of $250 when the person files the fund claim. (b) The department shall refund the filing fee required under this section if the (1) department makes an award to the claimant; (2) fund claim is dismissed under AS 06.60.610; or (3) fund claim is withdrawn by the claimant before the office of administrative hearings (AS 44.64.010) holds a hearing on the fund claim.
AK Stat § 06.60.630 (2021)
2021 Alaska Statutes|Title 6. Banks and Financial Institutions|Chapter 60. Mortgage Licensing|Article 7. Originator Surety Fund.|Sec. 06.60.630. Department contracts.

When the department receives a fund claim, the department may contract under AS 36.30 (State Procurement Code) with an investigator, an accountant, an attorney, or another person necessary for the department to process the fund claim. A contract may cover more than one fund claim.
AK Stat § 06.60.640 (2021)
2021 Alaska Statutes|Title 6. Banks and Financial Institutions|Chapter 60. Mortgage Licensing|Article 7. Originator Surety Fund.|Sec. 06.60.640. Defense of claim.

When the department receives a fund claim, the department shall allow each mortgage loan originator licensee against whom the claim is made an opportunity to file with the department, within seven days after receipt of notification of the fund claim under AS 06.60.600, a written statement in opposition to the fund claim and a request for a hearing.
AK Stat § 06.60.650 (2021)
2021 Alaska Statutes|Title 6. Banks and Financial Institutions|Chapter 60. Mortgage Licensing|Article 7. Originator Surety Fund.|Sec. 06.60.650. Standard of proof.

A person who submits a fund claim under AS 06.60.570 bears the burden of establishing by a preponderance of the evidence that the person suffered a loss in a mortgage loan transaction as a result of fraud, misrepresentation, deceit, or the conversion of trust funds by a mortgage loan originator licensee and the extent of those losses.
AK Stat § 06.60.660 (2021)
2021 Alaska Statutes|Title 6. Banks and Financial Institutions|Chapter 60. Mortgage Licensing|Article 7. Originator Surety Fund.|Sec. 06.60.660. Postponement.

The department may postpone its consideration of a fund claim until after a hearing under AS 06.60.200 or 06.60.590 or until the completion of a pending court proceeding.
AK Stat § 06.60.670 (2021)
2021 Alaska Statutes|Title 6. Banks and Financial Institutions|Chapter 60. Mortgage Licensing|Article 7. Originator Surety Fund.|Sec. 06.60.670. Nonapplication.

AS 06.60.630 - 06.60.660 do not apply to a fund claim that is dismissed under AS 06.60.610.
AK Stat § 06.60.680 (2021)
2021 Alaska Statutes|Title 6. Banks and Financial Institutions|Chapter 60. Mortgage Licensing|Article 7. Originator Surety Fund.|Sec. 06.60.680. Findings and payment.

(a) At the conclusion of the department's consideration of a claim made under AS 06.60.570, the department shall issue a written report that provides the department's findings of fact and conclusions of law. (b) If the department determines that the claimant has suffered a loss in a mortgage loan transaction as a result of fraud, misrepresentation, deceit, or the wrongful conversion of money by a mortgage loan originator licensee, the department may award the person who filed the fund claim reimbursement from money appropriated to the fund.
AK Stat § 06.60.690 (2021)
2021 Alaska Statutes|Title 6. Banks and Financial Institutions|Chapter 60. Mortgage Licensing|Article 7. Originator Surety Fund.|Sec. 06.60.690. Fund operations.

The department shall deposit into the fund money that the department recovers from a mortgage loan originator licensee under AS 06.60.745. The department may not consider amounts paid from the fund for hearing or legal expenses when determining the maximum reimbursement to be awarded under AS 06.60.710 or the maximum liability for fund claims under AS 06.60.710.
AK Stat § 06.60.700 (2021)
2021 Alaska Statutes|Title 6. Banks and Financial Institutions|Chapter 60. Mortgage Licensing|Article 7. Originator Surety Fund.|Sec. 06.60.700. Payment of small claims judgment.

(a) If a fund claim dismissed under AS 06.60.610 results in a monetary award against a mortgage loan originator licensee, the department may pay, subject to AS 06.60.710 and 06.60.720, any outstanding portion of the small claims judgment from money appropriated to the department for the purpose. (b) Before making payment under (a) of this section, the person who received the award shall file with the department a copy of the final judgment and an affidavit stating that more than 30 days have elapsed since the judgment became final and that the judgment has not yet been satisfied by the mortgage loan originator licensee against whom the award was made. (c) After the department pays a small claims judgment under this section, the department is subrogated to the rights of the person to whom the money was awarded under the judgment.
AK Stat § 06.60.710 (2021)
2021 Alaska Statutes|Title 6. Banks and Financial Institutions|Chapter 60. Mortgage Licensing|Article 7. Originator Surety Fund.|Sec. 06.60.710. Maximum liability.

(a) Payment of a fund claim may not exceed $15,000 for each claimant and $15,000 for each mortgage loan transaction regardless of the number of persons injured or the number of pieces of residential property involved in the mortgage loan transaction. (b) The maximum liability for fund claims against one mortgage loan originator licensee may not exceed $50,000. (c) If the $50,000 liability limit under (b) of this section is insufficient to pay in full the valid fund claims of all persons who have filed fund claims against one mortgage loan originator licensee, the $50,000 shall be distributed among the claimants in the ratio that their individual fund claims bear to the aggregate of valid fund claims against that mortgage loan originator licensee. The department shall distribute the money among the persons entitled to share in the recovery without regard to the order in which their fund claims were filed.
AK Stat § 06.60.715 (2021)
2021 Alaska Statutes|Title 6. Banks and Financial Institutions|Chapter 60. Mortgage Licensing|Article 7. Originator Surety Fund.|Sec. 06.60.715. Other rights of claimant.

The rights granted to a claimant under AS 06.60.500 - 06.60.750 do not limit any other cause of action the claimant may have against a mortgage loan originator.
AK Stat § 06.60.720 (2021)
2021 Alaska Statutes|Title 6. Banks and Financial Institutions|Chapter 60. Mortgage Licensing|Article 7. Originator Surety Fund.|Sec. 06.60.720. Order of fund claim payment.

If the money appropriated to the department for payment under AS 06.60.520 - 06.60.750 is insufficient to satisfy an award under AS 06.60.680 for a fund claim, the department shall, when sufficient money has been appropriated to the department for the purpose, satisfy unpaid fund claims in the order the fund claims were originally filed, plus accumulated interest at the rate allowed under AS 45.45.010(a).
AK Stat § 06.60.730 (2021)
2021 Alaska Statutes|Title 6. Banks and Financial Institutions|Chapter 60. Mortgage Licensing|Article 7. Originator Surety Fund.|Sec. 06.60.730. False claims or documents.

A person who files a notice, statement, or other document under AS 06.60.500 - 06.60.750 that contains a material misstatement of fact is guilty of a class A misdemeanor.
AK Stat § 06.60.740 (2021)
2021 Alaska Statutes|Title 6. Banks and Financial Institutions|Chapter 60. Mortgage Licensing|Article 7. Originator Surety Fund.|Sec. 06.60.740. Right to subrogation.

When the department has paid to a claimant the sum awarded under AS 06.60.680 or 06.60.700 and any amount due under AS 06.60.720, the department shall be subrogated to all of the rights of the claimant to the amount paid, and the claimant shall assign all right, title, and interest in that portion of the claim to the department. Money collected by the department on the claim shall be deposited in the fund.
AK Stat § 06.60.745 (2021)
2021 Alaska Statutes|Title 6. Banks and Financial Institutions|Chapter 60. Mortgage Licensing|Article 7. Originator Surety Fund.|Sec. 06.60.745. Reimbursement for expenses.

If the department pays all or a portion of a fund claim against a mortgage loan originator licensee under AS 06.60.680 or 06.60.700, the department may recover from the mortgage loan originator licensee, in addition to the payment of the fund claim, the expenses incurred by the department to process and otherwise handle the fund claim.
AK Stat § 06.60.750 (2021)
2021 Alaska Statutes|Title 6. Banks and Financial Institutions|Chapter 60. Mortgage Licensing|Article 7. Originator Surety Fund.|Sec. 06.60.750. Disciplinary action against a mortgage loan originator licensee.

Repayment in full of all obligations to the fund does not nullify or modify the effect of disciplinary proceedings brought against a mortgage loan originator licensee under this chapter.