reglab/housing_qa huggingface dataset:
CO Code § 12-10-620 (2021)
2021 Colorado Code|Title 12 - Professions and Occupations|Article 10 - Real Estate|Part 6 - Real Estate Appraisers|§ 12-10-620. Duties of Board Under Federal Law

  The board shall:   Transmit to the appraisal subcommittee of the federal financial institutions examination council or its successor entity, no less than annually, a roster listing individuals and appraisal management companies that have received a certificate or license as provided in this part 6;    Collect and transmit, on an annual basis, to the federal financial institutions examination council an annual registry fee, as prescribed by the appraisal subcommittee of the federal financial institutions examination council or its successor entity, from the following individuals and entities:   Individuals and appraisal management companies that are licensed or certified pursuant to this part 6; and    Appraisal management companies that operate as subsidiaries of federally regulated financial institutions; and       Conduct its business and promulgate rules in a manner consistent with Title XI of the federal “Financial Institutions Reform, Recovery, and Enforcement Act of 1989”, as amended, Pub.L. 101-73.       The board shall not collect or transmit the information required by this section for licensed ad valorem appraisers.     History. Source: L. 2019: Entire title R&RE with relocations,(HB 19-1172), ch. 136, p. 684, § 1, effective October 1.    Editor's note:   This section is similar to former § 12-61-720 as it existed prior to 2019.
CO Code § 12-10-621 (2021)
2021 Colorado Code|Title 12 - Professions and Occupations|Article 10 - Real Estate|Part 6 - Real Estate Appraisers|§ 12-10-621. Business Entities

  A corporation, partnership, bank, savings and loan association, savings bank, credit union, or other business entity may provide appraisal services if the appraisal is prepared by a certified general appraiser, a certified residential appraiser, or a licensed appraiser. An individual who is not a certified general appraiser, a certified residential appraiser, or a licensed appraiser may assist in the preparation of an appraisal if:   The assistant is under the direct supervision of a certified or licensed appraiser; and    The final appraisal document is approved and signed by an individual who is a certified or licensed appraiser.        History. Source: L. 2019: Entire title R&RE with relocations,(HB 19-1172), ch. 136, p. 685, § 1, effective October 1.    Editor's note:   This section is similar to former § 12-61-721 as it existed prior to 2019.
CO Code § 12-10-622 (2021)
2021 Colorado Code|Title 12 - Professions and Occupations|Article 10 - Real Estate|Part 6 - Real Estate Appraisers|§ 12-10-622. Provisions Found Not to Comply With Federal Law Null and Void - Severability

  If any provision of this part 6 is found by a court of competent jurisdiction or by the appropriate federal agency not to comply with the federal “Financial Institutions Reform, Recovery, and Enforcement Act of 1989”, as amended, Pub.L. 101-73, the provision is null and void, but the remaining provisions of this part 6 are valid unless the remaining provisions alone are incomplete and are incapable of being executed in accordance with the legislative intent of this part 6.    If the regulation of appraisal management companies is repealed from Title XI of the federal “Financial Institutions Reform, Recovery, and Enforcement Act of 1989”, as amended, Pub.L. 101-73, the board's jurisdiction over these entities is also repealed. Before the repeal, the division shall review the regulation of appraisal management companies as provided in section 24-34-104. If the board's jurisdiction is repealed, the director shall notify the revisor of statutes of the date of the repeal.     History. Source: L. 2019: Entire title R&RE with relocations,(HB 19-1172), ch. 136, p. 685, § 1, effective October 1.    Editor's note:    This section is similar to former § 12-61-722 as it existed prior to 2019.    As of publication date, the revisor of statutes has not received the notice referred to in subsection (2).
CO Code § 12-10-623 (2021)
2021 Colorado Code|Title 12 - Professions and Occupations|Article 10 - Real Estate|Part 6 - Real Estate Appraisers|§ 12-10-623. Scope of Article - Regulated Financial Institutions - De Minimis Exemption

     This article 10 does not apply to an appraisal relating to any real-estate-related transaction or loan made or to be made by a financial institution or its affiliate if the real-estate-related transaction or loan is excepted from appraisal regulations established by the primary federal regulator of the financial institution and the appraisal is performed by:   An officer, director, regularly salaried employee, or agent of the financial institution or its affiliate; or    A real estate broker licensed under this article 10 with whom the institution or affiliate has contracted for performance of the appraisal.       The appraisal must not be represented or deemed to be an appraisal except to the financial institution, the agencies regulating the financial institution, and any secondary markets that purchase real estate secured loans. The appraisal must contain a written notice that the preparer is not licensed or certified as an appraiser under this part 6. Nothing in this subsection (1) exempts a person licensed or certified as an appraiser under this part 6 from regulation as provided in this part 6.       Nothing in this article 10 limits the ability of any federal or state regulator of a financial institution to require the financial institution to obtain appraisals as specified by the regulator.     History. Source: L. 2019: Entire title R&RE with relocations,(HB 19-1172), ch. 136, p. 685, § 1, effective October 1. L. 2020: (1)(a)(I) amended,(SB 20-047), ch. 17, p. 72, § 2, effective September 14.    Editor's note:   This section is similar to former § 12-61-723 as it existed prior to 2019.
CO Code § 12-10-701 (2021)
2021 Colorado Code|Title 12 - Professions and Occupations|Article 10 - Real Estate|Part 7 - Mortgage Loan Originators|§ 12-10-701. Short Title

 The short title of this part 7 is the “Mortgage Loan Originator Licensing and Mortgage Company Registration Act”.   History. Source: L. 2019: Entire title R&RE with relocations,(HB 19-1172), ch. 136, p. 686, § 1, effective October 1.    Editor's note:   This section is similar to former § 12-61-901 as it existed prior to 2019.
CO Code § 12-10-705 (2021)
2021 Colorado Code|Title 12 - Professions and Occupations|Article 10 - Real Estate|Part 7 - Mortgage Loan Originators|§ 12-10-705. Registration Required - Rules

  On or after January 1, 2011, each mortgage company shall register with the nationwide mortgage licensing system and registry, unless exempted by rule by the board, and shall renew its registration each calendar year based on the following criteria:     The mortgage company is legally operating in the state of Colorado in accordance with standards determined and administered by the Colorado secretary of state; and (a) (I) The mortgage company is legally operating in the state of Colorado in accordance with standards determined and administered by the Colorado secretary of state; and    The mortgage company is not legally barred from operating in Colorado.       Sole proprietors, general partnerships, and other mortgage companies not otherwise required to register with the secretary of state shall register using a trade name.         History. Source: L. 2019: Entire title R&RE with relocations,(HB 19-1172), ch. 136, p. 694, § 1, effective October 1.    Editor's note:   This section is similar to former § 12-61-903.1 as it existed prior to 2019.
CO Code § 12-10-706 (2021)
2021 Colorado Code|Title 12 - Professions and Occupations|Article 10 - Real Estate|Part 7 - Mortgage Loan Originators|§ 12-10-706. License or Registration Inactivation

  The board may inactivate a state license or a registration with the nationwide mortgage licensing system and registry when a licensee has failed to:   Comply with the surety bond requirements of sections 12-10-704 (8) and 12-10-717;    Comply with the errors and omissions insurance requirement in section 12-10-707 or any rule of the board that directly or indirectly addresses errors and omissions insurance requirements;    Maintain current contact information, surety bond information, or errors and omissions insurance information as required by this part 7 or by any rule of the board that directly or indirectly addresses those requirements;    Respond to an investigation or examination;    Comply with any of the education or testing requirements set forth in this part 7 or in any rule of the board that directly or indirectly addresses education or testing requirements; or    Register with and provide all required information to the nationwide mortgage licensing system and registry.        History. Source: L. 2019: Entire title R&RE with relocations,(HB 19-1172), ch. 136, p. 694, § 1, effective October 1.    Editor's note:   This section is similar to former § 12-61-903.3 as it existed prior to 2019.
CO Code § 12-10-707 (2021)
2021 Colorado Code|Title 12 - Professions and Occupations|Article 10 - Real Estate|Part 7 - Mortgage Loan Originators|§ 12-10-707. Errors and Omissions Insurance - Duties of the Board - Certificate of Coverage - When Required - Group Plan Made Available - Effect - Rules

  Every licensee under this part 7, except an inactive mortgage loan originator or an attorney licensee who maintains a policy of professional malpractice insurance that provides coverage for errors and omissions insurance for their activities as a licensee under this part 7, shall maintain errors and omissions insurance to cover all activities contemplated under this part 7. The division shall make the errors and omissions insurance available to all licensees by contracting with an insurer for a group policy after a competitive bid process in accordance with article 103 of title 24. A group policy obtained by the division must be available to all licensees with no right on the part of the insurer to cancel a licensee. A licensee may obtain errors and omissions insurance independently if the coverage complies with the minimum requirements established by the division.      If the division is unable to obtain errors and omissions insurance coverage to insure all licensees who choose to participate in the group program at a reasonable annual premium, as determined by the division, a licensee shall independently obtain the errors and omissions insurance required by this section.    The division shall solicit and consider information and comments from interested persons when determining the reasonableness of annual premiums.       The division shall determine the terms and conditions of coverage required under this section based on rules promulgated by the board. Each licensee shall be notified of the required terms and conditions at least thirty days before the annual premium renewal date as determined by the division. Each licensee shall file a certificate of coverage showing compliance with the required terms and conditions with the division by the annual premium renewal date, as determined by the division.    In addition to all other powers and duties conferred upon the board by this part 7, the board shall adopt such rules as it deems necessary or proper to carry out this section.      History. Source: L. 2019: Entire title R&RE with relocations,(HB 19-1172), ch. 136, p. 695, § 1, effective October 1.    Editor's note:   This section is similar to former § 12-61-903.5 as it existed prior to 2019.
CO Code § 12-10-708 (2021)
2021 Colorado Code|Title 12 - Professions and Occupations|Article 10 - Real Estate|Part 7 - Mortgage Loan Originators|§ 12-10-708. License Renewal

  In order for a licensed mortgage loan originator to renew a license issued pursuant to this part 7, the mortgage loan originator shall:   Continue to meet the minimum standards for issuance of a license pursuant to this part 7;    Satisfy the annual continuing education requirements set forth in section 12-10-704 (10) and in rules adopted by the board; and    Pay applicable license renewal fees.       If a licensed mortgage loan originator fails to satisfy the requirements of subsection (1) of this section for license renewal, the mortgage loan originator's license shall expire. The board shall adopt rules to establish procedures for the reinstatement of an expired license consistent with the standards established by the nationwide mortgage licensing system and registry.     History. Source: L. 2019: Entire title R&RE with relocations,(HB 19-1172), ch. 136, p. 696, § 1, effective October 1.    Editor's note:   This section is similar to former § 12-61-903.7 as it existed prior to 2019.
CO Code § 12-10-710 (2021)
2021 Colorado Code|Title 12 - Professions and Occupations|Article 10 - Real Estate|Part 7 - Mortgage Loan Originators|§ 12-10-710. Originator's Relationship to Borrower - Rules

  A mortgage loan originator shall have a duty of good faith and fair dealing in all communications and transactions with a borrower. The duty includes, but is not limited to:   The duty to not recommend or induce the borrower to enter into a transaction that does not have a reasonable, tangible net benefit to the borrower, considering all of the circumstances, including the terms of a loan, the cost of a loan, and the borrower's circumstances;    The duty to make a reasonable inquiry concerning the borrower's current and prospective income, existing debts and other obligations, and any other relevant information and, after making the inquiry, to make his or her best efforts to recommend, broker, or originate a residential mortgage loan that takes into consideration the information submitted by the borrower, but the mortgage loan originator shall not be deemed to violate this section if the borrower conceals or misrepresents relevant information; and    The duty not to commit any acts, practices, or omissions in violation of section 38-40-105.       For purposes of implementing subsection (1) of this section, the board may adopt rules defining what constitutes a reasonable, tangible net benefit to the borrower.    A violation of this section constitutes a deceptive trade practice under the “Colorado Consumer Protection Act”, article 1 of title 6.     History. Source: L. 2019: Entire title R&RE with relocations,(HB 19-1172), ch. 136, p. 698, § 1, effective October 1.    Editor's note:   This section is similar to former § 12-61-904.5 as it existed prior to 2019.
CO Code § 12-10-712 (2021)
2021 Colorado Code|Title 12 - Professions and Occupations|Article 10 - Real Estate|Part 7 - Mortgage Loan Originators|§ 12-10-712. Powers and Duties of the Board Over Mortgage Companies - Fines - Rules

  With respect to mortgage companies, the board may deny an application for registration; refuse to renew, suspend, or revoke the registration; enter cease-and-desist orders; and impose fines as set forth in this section as follows:   If the board has reasonable cause to believe a person is acting without a license or registration;    If the mortgage company fails to maintain possession, for future use or inspection by an authorized representative of the board, for a period of four years, of the documents or records prescribed by the rules of the board or to produce the documents or records upon reasonable request by the board or by an authorized representative of the board;    If the mortgage company employs or contracts with individuals who are required to be licensed pursuant to this part 7 and who are not either:   Licensed; or    In the process of becoming licensed; or       If the mortgage company directs, makes, or causes to be made, in any manner, a false or deceptive statement or representation with regard to the rates, points, or other financing terms or conditions for a residential mortgage loan; engages in bait and switch advertising as that term is used in section 6-1-105 (1)(n); or violates any rule of the board that directly or indirectly addresses advertising requirements.         The board, upon its own motion or upon the complaint in writing of any person, may investigate the activities of any registered mortgage company or any mortgage company that is acting in a capacity that requires registration pursuant to this part 7.    The board may fine a mortgage company that has violated this section or any rules promulgated pursuant to this section as follows:   In the first administrative proceeding, a fine not in excess of one thousand dollars per act or occurrence;    In a second or subsequent administrative proceeding, a fine not in excess of two thousand dollars per act or occurrence.       All fines collected pursuant to this section shall be transmitted to the state treasurer, who shall credit them to the division of real estate cash fund created in section 12-10-215.       The board may adopt reasonable rules for implementing this section.    Nothing in this section automatically imputes a violation to the mortgage company if a licensed agent or employee, or an individual agent or employee who is required to be licensed, violates any other provision of this part 7.      History. Source: L. 2019: Entire title R&RE with relocations,(HB 19-1172), ch. 136, p. 702, § 1, effective October 1.    Editor's note:   This section is similar to former § 12-61-905.1 as it existed prior to 2019.
CO Code § 12-10-714 (2021)
2021 Colorado Code|Title 12 - Professions and Occupations|Article 10 - Real Estate|Part 7 - Mortgage Loan Originators|§ 12-10-714. Hearing - Administrative Law Judge - Review - Rules

  Except as otherwise provided in this section, all proceedings before the board with respect to disciplinary actions and denial of licensure under this part 7, at the discretion of the board, may be conducted by an authorized representative of the board or an administrative law judge pursuant to sections 24-4-104 and 24-4-105.    Proceedings shall be held in the county where the board has its office or in such other place as the board may designate. If the licensee is employed by another licensed mortgage loan originator or by a real estate broker, the board shall also notify the licensee's employer by mailing, by first-class mail, a copy of the written notice required under section 24-4-104 (3) to the employer's last-known business address.    The board, an authorized representative of the board, or an administrative law judge shall conduct all hearings for denying, suspending, or revoking a license or certificate on behalf of the board, subject to appropriations made to the department of personnel. Each administrative law judge shall be appointed pursuant to part 10 of article 30 of title 24. The administrative law judge shall conduct the hearing in accordance with sections 24-4-104 and 24-4-105. No license shall be denied, suspended, or revoked until the board has made its decision.    The decision of the board in any disciplinary action or denial of licensure under this section is subject to judicial review by the court of appeals. In order to effectuate the purposes of this part 7, the board has the power to promulgate rules pursuant to article 4 of title 24.    In a judicial review proceeding, the court may stay the execution or effect of any final order of the board; but a hearing shall be held affording the parties an opportunity to be heard for the purpose of determining whether the public health, safety, and welfare would be endangered by staying the board's order. If the court determines that the order should be stayed, it shall also determine at the hearing the amount of the bond and adequacy of the surety, which bond shall be conditioned upon the faithful performance by the petitioner of all obligations as a mortgage loan originator and upon the prompt payment of all damages arising from or caused by the delay in the taking effect of or enforcement of the order complained of and for all costs that may be assessed or required to be paid in connection with the proceedings.    In any hearing conducted by the board or an authorized representative of the board in which there is a possibility of the denial, suspension, or revocation of a license because of the conviction of a felony or of a crime involving moral turpitude, the board or its authorized representative shall be governed by section 24-5-101.     History. Source: L. 2019: Entire title R&RE with relocations,(HB 19-1172), ch. 136, p. 707, § 1, effective October 1.    Editor's note:   This section is similar to former § 12-61-905.6 as it existed prior to 2019.
CO Code § 12-10-715 (2021)
2021 Colorado Code|Title 12 - Professions and Occupations|Article 10 - Real Estate|Part 7 - Mortgage Loan Originators|§ 12-10-715. Subpoena - Misdemeanor

  The board or the administrative law judge appointed for hearings may issue subpoenas, as described in section 12-10-711 (7), which shall be served in the same manner as subpoenas issued by district courts and shall be issued without discrimination between public or private parties requiring the attendance of witnesses or the production of documents at hearings.    [ ] Any person who willfully fails or neglects to appear and testify or to produce books, papers, or records required by subpoena, duly served upon him or her in any matter conducted under this part 7, is guilty of a misdemeanor and, upon conviction thereof, shall be punished by a fine of one hundred dollars or imprisonment in the county jail for not more than thirty days for each such offense, or by both such fine and imprisonment. Each day a person so refuses or neglects constitutes a separate offense.    Editor's note: This version of subsection (2) is effective until March 1, 2022.  (2) [ ] Any person who willfully fails or neglects to appear and testify or to produce books, papers, or records required by subpoena, duly served upon him or her in any matter conducted under this part 7 commits a petty offense. Each day a person so refuses or neglects constitutes a separate offense.  Editor's note: This version of subsection (2) is effective March 1, 2022.  History. Source: L. 2019: Entire title R&RE with relocations,(HB 19-1172), ch. 136, p. 708, § 1, effective October 1. L. 2021: (2) amended,(SB 21-271), ch. 462, p. 3154, § 138, effective March 1, 2022.    Editor's note:    This section is similar to former § 12-61-905.7 as it existed prior to 2019.    Section 803(2) of chapter 462 (SB 21-271), Session Laws of Colorado 2021, provides that the act changing this section applies to offenses committed on or after March 1, 2022.
CO Code § 12-10-716 (2021)
2021 Colorado Code|Title 12 - Professions and Occupations|Article 10 - Real Estate|Part 7 - Mortgage Loan Originators|§ 12-10-716. Immunity

 A person participating in good faith in the filing of a complaint or report or participating in an investigation or hearing before the board or an administrative law judge pursuant to this part 7 shall be immune from any liability, civil or criminal, that otherwise might result by reason of the action.   History. Source: L. 2019: Entire title R&RE with relocations,(HB 19-1172), ch. 136, p. 708, § 1, effective October 1.    Editor's note:   This section is similar to former § 12-61-906 as it existed prior to 2019.