reglab/housing_qa huggingface dataset:
AK Stat § 06.60.100 (2021)
2021 Alaska Statutes|Title 6. Banks and Financial Institutions|Chapter 60. Mortgage Licensing|Article 3. Licensee Obligations.|Sec. 06.60.100. Annual report.

(a) Annually, on or before a date established by the department by regulation, a mortgage licensee and a registered depository institution shall file a report with the department providing relevant information that the department requires concerning the business and operations of the mortgage licensee or registered depository institution. The mortgage licensee and the registered depository institution shall make the report under oath or on affirmation. The content and form of the report shall be established by the department by regulation. (b) A mortgage licensee who or registered depository institution that fails to file a report as required by this section is subject to a civil penalty of $25 for each day's failure to file the report. (c) A mortgage licensee and a registered depository institution shall submit to the registry, as required by the registry, reports of the condition of the licensee or registered depository institution, which must be in the form and contain the information that the registry may require.
AK Stat § 06.60.110 (2021)
2021 Alaska Statutes|Title 6. Banks and Financial Institutions|Chapter 60. Mortgage Licensing|Article 3. Licensee Obligations.|Sec. 06.60.110. Location of business.

A mortgage licensee may not maintain the mortgage licensee's principal place of business or a branch office within an office, suite, room, or place of business in which any other business is solicited or engaged in, or in association or conjunction with another business, unless the name, ownership, and business purpose of the other business is disclosed in the mortgage licensee's application for a mortgage license.
AK Stat § 06.60.112 (2021)
2021 Alaska Statutes|Title 6. Banks and Financial Institutions|Chapter 60. Mortgage Licensing|Article 3. Licensee Obligations.|Sec. 06.60.112. Branch office application.

A mortgage licensee shall submit an application to register a branch office to the department through the registry. The department may adopt by regulation procedures and fees for the submission of an application to register a branch office, consistent with the requirements of the registry. The department may adopt by regulation fees and other requirements for renewal of a branch office registration that are consistent with the requirements of the registry.
AK Stat § 06.60.115 (2021)
2021 Alaska Statutes|Title 6. Banks and Financial Institutions|Chapter 60. Mortgage Licensing|Article 3. Licensee Obligations.|Sec. 06.60.115. Change of place of business.

If a mortgage licensee wishes to change the mortgage licensee's place of business to another location, the mortgage licensee shall submit a written notice to the department at least 10 days before relocating the business. If the mortgage licensee is otherwise in compliance with this chapter, the department shall issue a revised mortgage license to the mortgage licensee that reflects the new location.
AK Stat § 06.60.120 (2021)
2021 Alaska Statutes|Title 6. Banks and Financial Institutions|Chapter 60. Mortgage Licensing|Article 3. Licensee Obligations.|Sec. 06.60.120. Transfer of business.

A mortgage licensee may only transfer or assign the licensee's business if (1) an application is made to the department to transfer or assign the business to another mortgage licensee with the same type of mortgage license as the transferring or assigning mortgage licensee; (2) at least 30 days before the effective date of the proposed transfer or assignment, the department determines it has received a complete application from the proposed assignee or transferee; and (3) the department determines that the proposed transferee or assignee complies with AS 06.60.060.
AK Stat § 06.60.130 (2021)
2021 Alaska Statutes|Title 6. Banks and Financial Institutions|Chapter 60. Mortgage Licensing|Article 3. Licensee Obligations.|Sec. 06.60.130. Change in business control or business operations.

(a) The prior approval of the department that is made in a record is required for the continued operation of a mortgage licensee's business when a change in control of the mortgage licensee is proposed. The department may require the information it considers necessary to determine whether a new application is required. The mortgage licensee requesting approval of the change in control shall pay all reasonable expenses incurred by the department to investigate and approve or deny the change in control. The department may establish by regulation the fees and other requirements for requesting approval of a change in control that are consistent with the requirements of the registry. (b) If there is a material change in the business operations of a mortgage licensee not covered by AS 06.60.120, the mortgage licensee shall provide written notice to the department at least 30 days before the effective date of the change in business operations.
AK Stat § 06.60.140 (2021)
2021 Alaska Statutes|Title 6. Banks and Financial Institutions|Chapter 60. Mortgage Licensing|Article 3. Licensee Obligations.|Sec. 06.60.140. Availability of out-of-state records.

A mortgage licensee who or registered depository institution that operates an office or other place of business outside this state shall, at the request of the department, (1) make the records of the office or place of business available to the department at a location within this state; or (2) reimburse the department its reasonable costs, as provided in AS 06.60.250(k), that are incurred by the department in conjunction with an investigation or examination conducted at the office or place of business.
AK Stat § 06.60.155 (2021)
2021 Alaska Statutes|Title 6. Banks and Financial Institutions|Chapter 60. Mortgage Licensing|Article 3. Licensee Obligations.|Sec. 06.60.155. Restriction on mortgage loan originator licensee's work.

A mortgage loan originator licensee may only work as a mortgage loan originator licensee under contract for, or as an employee of, one mortgage licensee.
AK Stat § 06.60.157 (2021)
2021 Alaska Statutes|Title 6. Banks and Financial Institutions|Chapter 60. Mortgage Licensing|Article 3. Licensee Obligations.|Sec. 06.60.157. Restrictions on mortgage licensee's performance of mortgage loan originator activities.

A mortgage licensee may not perform mortgage loan originator activities except through a licensed mortgage loan originator who is an employee of or under exclusive contract with a mortgage licensee.
AK Stat § 06.60.159 (2021)
2021 Alaska Statutes|Title 6. Banks and Financial Institutions|Chapter 60. Mortgage Licensing|Article 3. Licensee Obligations.|Sec. 06.60.159. Mortgage licensee's employment of, contract with, and liability for mortgage loan originator.

(a) A mortgage licensee may not employ or enter into a contract with a person who acts as a mortgage loan originator for the mortgage licensee unless the person has a mortgage loan originator license. (b) A mortgage licensee is liable for the conduct of a person acting as a mortgage loan originator if the mortgage licensee knows or should have known that the person's conduct violates this chapter and the person is employed by or is under contract with the mortgage licensee to act as a mortgage loan originator.
AK Stat § 06.60.160 (2021)
2021 Alaska Statutes|Title 6. Banks and Financial Institutions|Chapter 60. Mortgage Licensing|Article 3. Licensee Obligations.|Sec. 06.60.160. Continuing education requirements for mortgage loan originators.

(a) Each calendar year, a licensed mortgage loan originator shall complete at least eight hours of education approved under (b) of this section. At a minimum, these hours must include (1) three hours of instruction in federal statutes and regulations; (2) two hours of instruction in ethics, including instruction on issues related to fraud prevention, consumer protection, and fair lending; and (3) two hours of training related to lending standards for the nontraditional mortgage product marketplace. (b) For the purposes of (a) of this section, a continuing education course must be approved under 12 U.S.C. 5105(b)(2) (Secure and Fair Enforcement for Mortgage Licensing Act of 2008). Review and approval of a continuing education course includes review and approval of the course provider. (c) Nothing in this section precludes a continuing education course that is approved under (b) of this section and that is provided by the employer of the applicant, an entity affiliated with the applicant, or a subsidiary or affiliate of an employer or entity affiliated with the applicant. (d) Continuing education may be offered in a classroom, on-line, or by other means approved under 12 U.S.C. 5105(b)(2) (Secure and Fair Enforcement for Mortgage Licensing Act of 2008). (e) A licensed mortgage loan originator (1) except as provided by (i) of this section, may only receive credit for a continuing education course in the calendar year in which the course is taken; and (2) may not retake an approved course in the same or successive calendar years if the mortgage loan originator has previously taken the course to meet the annual requirements for continuing education. (f) A licensed mortgage loan originator who is an approved instructor of an approved continuing education course may receive credit for the licensed mortgage loan originator's own annual continuing education requirement at the rate of two hours of credit for each one hour taught. (g) Successful completion of a continuing education course approved for another state by the registry shall be accepted as credit toward completion of continuing education requirements in this state. (h) Before a new or renewed license may be issued to a licensed mortgage loan originator who has become unlicensed, the mortgage loan originator shall complete the continuing education requirements for the last calendar year in which the mortgage loan originator's license was valid. (i) A person meeting the requirements of AS 06.60.087, other than the continuing education requirement of AS 06.60.087(a)(2), may make up a deficiency in continuing education in a manner established by regulation.
AK Stat § 06.60.200 (2021)
2021 Alaska Statutes|Title 6. Banks and Financial Institutions|Chapter 60. Mortgage Licensing|Article 4. Discipline and Investigation.|Sec. 06.60.200. Disciplinary action.

(a) In addition to other disciplinary action allowed under this chapter or under AS 06.01, the department may deny, suspend, revoke, condition, or decline to renew a license or take other disciplinary action against a person subject to this chapter, including action under a regulation adopted under this chapter, if the department finds that the person (1) fails to comply with an applicable provision of this title, an applicable regulation adopted under this title, a lawful demand, ruling, order, or requirement of the department, or other state or federal statute or regulation applicable to the conduct of the licensee's business; (2) fails to meet the minimum standards for issuance or renewal of a license; or (3) knowingly withholds material information or negligently makes a material misstatement in an application for or renewal of a license. (b) The department may (1) order a person subject to this chapter to cease and desist from conducting business, including an immediate temporary order to cease and desist; (2) order a person subject to this chapter to cease and desist from violating this chapter, including an immediate temporary order to cease and desist; (3) impose a fine on a person subject to this chapter under AS 06.60.420; (4) issue an order of rescission, restitution, or disgorgement directed to a person subject to this chapter for a violation of this chapter; (5) order other affirmative action that the department considers necessary, including an accounting, an asset freeze, or the appointment of a receiver. (c) A disciplinary action under this section may be taken by itself or in conjunction with one or more other disciplinary actions under this chapter or under AS 06.01.
AK Stat § 06.60.210 (2021)
2021 Alaska Statutes|Title 6. Banks and Financial Institutions|Chapter 60. Mortgage Licensing|Article 4. Discipline and Investigation.|Sec. 06.60.210. Suspension, revocation, or renewal related to fund.

(a) When an award is made from the fund, the department may suspend, revoke, or decline to renew the license of the mortgage loan originator licensee whose actions formed the basis of the award. (b) The department shall lift a suspension made under (a) of this section if the mortgage loan originator licensee reaches an agreement with the department on terms and conditions for the repayment to the fund of the money awarded to the claimant and the costs of hearing the fund claim. The department may reimpose the suspension if the mortgage loan originator licensee violates the terms of a repayment agreement entered into under this subsection.
AK Stat § 06.60.230 (2021)
2021 Alaska Statutes|Title 6. Banks and Financial Institutions|Chapter 60. Mortgage Licensing|Article 4. Discipline and Investigation.|Sec. 06.60.230. Divestment.

If the department revokes a mortgage license, the mortgage licensee shall divest itself of all outstanding loans that were issued under this chapter by selling or assigning them to another mortgage licensee. Divestment under this section must be approved by the department.
AK Stat § 06.60.240 (2021)
2021 Alaska Statutes|Title 6. Banks and Financial Institutions|Chapter 60. Mortgage Licensing|Article 4. Discipline and Investigation.|Sec. 06.60.240. Reinstatement.

The department may reinstate a suspended license if the licensee complies with this chapter or with a demand, ruling, or requirement made by the department under this chapter. Before reinstatement of a license, the licensee shall pay any fees, restitution, and civil penalties owing under this chapter.
AK Stat § 06.60.260 (2021)
2021 Alaska Statutes|Title 6. Banks and Financial Institutions|Chapter 60. Mortgage Licensing|Article 4. Discipline and Investigation.|Sec. 06.60.260. Revocation, removal, or suspension of mortgage loan originator licensee.

If the department finds that a mortgage loan originator licensee is dishonest, reckless, or incompetent when operating as a mortgage loan originator or fails to comply with applicable law, with regulations or orders of the department, or with written requirements or instructions of the department relating to the mortgage loan originator license, the department may revoke or suspend the mortgage loan originator license, remove the mortgage loan originator licensee from operating as a mortgage loan originator in the state, or order a person licensed under this title to remove the mortgage loan originator licensee from operating as a mortgage loan originator for the person.
AK Stat § 06.60.270 (2021)
2021 Alaska Statutes|Title 6. Banks and Financial Institutions|Chapter 60. Mortgage Licensing|Article 4. Discipline and Investigation.|Sec. 06.60.270. Removal by entity.

A mortgage licensee shall remove a mortgage loan originator licensee from acting as a mortgage loan originator for the mortgage licensee if the department directs the mortgage licensee to remove the mortgage loan originator licensee under AS 06.60.260.
AK Stat § 06.60.280 (2021)
2021 Alaska Statutes|Title 6. Banks and Financial Institutions|Chapter 60. Mortgage Licensing|Article 4. Discipline and Investigation.|Sec. 06.60.280. Department list.

The department shall make available to the public a list of all licensees who have been censured or barred or had their licenses suspended or revoked under this chapter. The department shall update the list on a monthly basis.
AK Stat § 06.60.290 (2021)
2021 Alaska Statutes|Title 6. Banks and Financial Institutions|Chapter 60. Mortgage Licensing|Article 4. Discipline and Investigation.|Sec. 06.60.290. Report to the registry.

Notwithstanding AS 06.01.025, the department shall regularly report violations of this chapter, as well as enforcement actions and other relevant information, to the registry, subject to provisions established by the department by regulation.
AK Stat § 06.60.320 (2021)
2021 Alaska Statutes|Title 6. Banks and Financial Institutions|Chapter 60. Mortgage Licensing|Article 5. Business Duties and Restrictions.|Sec. 06.60.320. False, misleading, or deceptive advertising prohibited.

A person may not advertise, print, display, publish, distribute, broadcast, or cause or permit to be advertised, printed, displayed, published, distributed, or broadcast, in any manner a statement or representation with regard to the rates, terms, or conditions for a mortgage loan that is false, misleading, or deceptive.
AK Stat § 06.60.325 (2021)
2021 Alaska Statutes|Title 6. Banks and Financial Institutions|Chapter 60. Mortgage Licensing|Article 5. Business Duties and Restrictions.|Sec. 06.60.325. Display of unique identifier.

A person operating as a mortgage lender, mortgage broker, or mortgage loan originator shall clearly display the unique identifier assigned to the person by the registry on all residential mortgage loan application forms, solicitations, and advertisements, including business cards or websites, and any other documents as established by regulation or order of the department.
AK Stat § 06.60.330 (2021)
2021 Alaska Statutes|Title 6. Banks and Financial Institutions|Chapter 60. Mortgage Licensing|Article 5. Business Duties and Restrictions.|Sec. 06.60.330. Compliance with federal requirements.

A person subject to this chapter shall conduct the person's mortgage loan activities in compliance with (1) 12 U.S.C. 2601 - 2617 (Real Estate Settlement Procedures Act of 1974); (2) 12 U.S.C. 2801 - 2810 (Home Mortgage Disclosure Act of 1975); (3) 12 U.S.C. 2901 - 2908 (Community Reinvestment Act of 1977); (4) 12 U.S.C. 5101 - 5116 (Secure and Fair Enforcement for Mortgage Licensing Act of 2008); (5) 15 U.S.C. 1601 - 1666j and 1671 - 1693r (Consumer Credit Protection Act); (6) 42 U.S.C. 3601 - 3631 (Fair Housing Act of 1968); (7) any other federal statute the purpose of which is to regulate residential mortgage lending; and (8) regulations adopted under the statutes identified in (1) - (7) of this section.
AK Stat § 06.60.350 (2021)
2021 Alaska Statutes|Title 6. Banks and Financial Institutions|Chapter 60. Mortgage Licensing|Article 5. Business Duties and Restrictions.|Sec. 06.60.350. Certain refinancing prohibited.

(a) A covered person may not refinance a mortgage loan within 12 months after the date the mortgage loan is closed unless the refinancing is beneficial to the borrower. (b) The factors to be considered when determining if refinancing is beneficial to the borrower under this section may include whether (1) the borrower's new monthly payment is lower than the total of all monthly obligations being refinanced, after taking into account the costs and fees of the refinancing; (2) the amortization period of the new mortgage loan is different from the amortization period of the mortgage loan being refinanced; (3) the borrower receives cash in excess of the costs and fees of the refinancing; (4) the rate of interest of the borrower's promissory note is reduced; (5) the mortgage loan changes from an adjustable rate loan to a fixed rate loan; in a determination under this paragraph, the department may take into account costs and fees; (6) the refinancing is necessary to respond to a bona fide personal need or an order of a court of competent jurisdiction; (7) the original term of the mortgage loan being refinanced is two years or less; and (8) the refinancing is being made to prevent a foreclosure on an existing mortgage loan.
AK Stat § 06.60.360 (2021)
2021 Alaska Statutes|Title 6. Banks and Financial Institutions|Chapter 60. Mortgage Licensing|Article 5. Business Duties and Restrictions.|Sec. 06.60.360. Escrow accounts.

(a) A covered person and a borrower may agree that the covered person will keep in an escrow account all money that the borrower is required to pay to defray future taxes or insurance premiums or for other lawful purposes. The escrow account must be segregated from the other accounts of the covered person and be subject to a written escrow agreement. The covered person may not commingle the borrower's money with the general funds of the covered person. Money deposited in an escrow account under this subsection shall be maintained in the account until it is disbursed in accordance with the written escrow agreement. (b) A covered person may not require a borrower to pay money into escrow to defray future taxes, to defray insurance premiums, or for another purpose, in connection with a subordinate mortgage loan, unless an escrow account for that purpose is not being maintained for the mortgage loan that is superior to the subordinate mortgage loan. (c) If the billing address of a covered person who is holding money in escrow for insurance premiums changes, the covered person shall notify the insurer in writing about the change of billing address within 30 days after the change or 60 days before the renewal date of the insurance policy, whichever is later. (d) A covered person who accepts money belonging to a borrower in connection with a mortgage loan shall deposit all of the money into an escrow account maintained by the covered person in a bank or another recognized depository institution. In this subsection, “recognized depository institution” means a person who is organized as a financial institution under the laws of a state or the federal government and whose deposits are insured by a federal agency. (e) Money held in an escrow account under this section is exempt from execution, attachment, or garnishment under AS 09.38 and is not subject to a claim under AS 09.38.065. (f) In this section, “escrow account” means an account (1) to which a borrower makes payments for obligations related to the real property that is the subject of a residential mortgage loan of the borrower; (2) held by a third person; and (3) from which the third person identified in (2) of this subsection disburses money in accordance with a written agreement to pay obligations related to the real property that is the subject of a residential mortgage loan of the borrower.
AK Stat § 06.60.370 (2021)
2021 Alaska Statutes|Title 6. Banks and Financial Institutions|Chapter 60. Mortgage Licensing|Article 5. Business Duties and Restrictions.|Sec. 06.60.370. Criminal penalties.

(a) The department may report a violation of (b) - (e) of this section to the attorney general, who may institute the proper proceedings to enforce the criminal penalties provided in (b) - (e) of this section. (b) A person who knowingly provides false or misleading information to the department that is material under this chapter is guilty of a class A misdemeanor. (c) A person who knowingly fails to account for or deliver to a person money, deposits, or checks or other forms of negotiable instruments in violation of the provisions of this chapter is guilty of a class A misdemeanor. (d) A licensee who knowingly fails to disburse money belonging to the borrower without just cause is guilty of a class A misdemeanor. (e) Unless the person is exempt from licensing under this chapter, a person who knowingly operates in this state as a mortgage lender, mortgage broker, or mortgage loan originator without a license issued under this chapter is guilty of a class A misdemeanor.
AK Stat § 06.60.380 (2021)
2021 Alaska Statutes|Title 6. Banks and Financial Institutions|Chapter 60. Mortgage Licensing|Article 5. Business Duties and Restrictions.|Sec. 06.60.380. Definition of “covered person.”

In AS 06.60.320 - 06.60.380, “covered person” means a mortgage licensee or a person who is licensed under AS 06.20.