reglab/housing_qa huggingface dataset:
AK Stat § 06.60.013 (2021)
2021 Alaska Statutes|Title 6. Banks and Financial Institutions|Chapter 60. Mortgage Licensing|Article 1. Licensing.|Sec. 06.60.013. Loan processors or underwriters.

(a) A loan processor or underwriter who is an independent contractor may not operate as a loan processor or underwriter unless the independent contractor loan processor or underwriter is licensed as a mortgage loan originator under this chapter. An independent contractor loan processor or underwriter licensed as a mortgage loan originator shall register with the registry and maintain a valid unique identifier issued by the registry. (b) An individual engaged solely in loan processor or underwriter activities who is not an independent contractor is not required to be licensed as a mortgage loan originator under this chapter if the individual does not represent to the public, through advertising or other means of communicating or providing information, including the use of the Internet, business cards, stationery, brochures, signs, rate lists, or other promotional items, that the individual can or will perform any of the activities of a mortgage loan originator.
AK Stat § 06.60.014 (2021)
2021 Alaska Statutes|Title 6. Banks and Financial Institutions|Chapter 60. Mortgage Licensing|Article 1. Licensing.|Sec. 06.60.014. Registered depository institutions.

(a) A depository institution may sponsor a mortgage loan originator under AS 06.60.012(b) if the depository institution is registered with the department under this section, has an exclusive written contract to sponsor a mortgage loan originator licensed under this chapter, is otherwise in compliance with this chapter, and satisfies the other requirements of this section. Registration under this section does not affect the exemption of the depository institution under AS 06.60.015(a). (b) To register under (a) of this section, a depository institution shall (1) complete a registration form established by the department; the form must identify the mortgage loan originator to be sponsored by the depository institution and each mortgage lending location of the registered depository institution; and (2) pay a registration fee established by the department. (c) Registration under (b) of this section expires after one year. To renew a registration, the depository institution shall file a renewal application with the department and pay a renewal fee established by the department. (d) The department may deny an initial or renewal registration under this section or may suspend or revoke the registration of a depository institution that is registered under (b) of this section if the department determines that the depository institution (1) failed to satisfy a requirement of this section; (2) failed to supervise its sponsored mortgage loan originator adequately; or (3) made a material misstatement or withheld information on the application for registration, on an application for the renewal of the registration, or on another document required to be filed with the department.
AK Stat § 06.60.016 (2021)
2021 Alaska Statutes|Title 6. Banks and Financial Institutions|Chapter 60. Mortgage Licensing|Article 1. Licensing.|Sec. 06.60.016. Registry.

(a) The department may participate in the registry and pay the fees required for participation in the registry. (b) The department (1) may establish relationships or contracts with the registry or other entities designated by the registry to collect and maintain records and process transaction fees or other fees related to licensees or other persons subject to this chapter; (2) shall require mortgage licensees and mortgage loan originators to register with the registry; and (3) shall establish by regulation a process that allows mortgage licensees and mortgage loan originators to challenge information entered into the registry by the department. (c) The department may adopt emergency regulations under AS 44.62 (Administrative Procedure Act) to implement this section, including emergency regulations for the assessment of fees.
AK Stat § 06.60.020 (2021)
2021 Alaska Statutes|Title 6. Banks and Financial Institutions|Chapter 60. Mortgage Licensing|Article 1. Licensing.|Sec. 06.60.020. Application for license.

(a) An application for a license under this chapter must (1) be on the form prescribed by the department and the registry; (2) contain complete information regarding the applicant; (3) include fingerprints of the applicant, as needed to conduct a background check; and (4) contain other information or supporting material that the department may require concerning the applicant, including the organization and operations of an applicant for a mortgage license and the financial responsibility, background, experience, and activities of the applicant. (b) In this section, “applicant” includes a control person of an applicant for a mortgage license.
AK Stat § 06.60.026 (2021)
2021 Alaska Statutes|Title 6. Banks and Financial Institutions|Chapter 60. Mortgage Licensing|Article 1. Licensing.|Sec. 06.60.026. Transfer of mortgage loan originator license.

A person who holds a mortgage loan originator license may not transfer or assign the mortgage loan originator license.
AK Stat § 06.60.027 (2021)
2021 Alaska Statutes|Title 6. Banks and Financial Institutions|Chapter 60. Mortgage Licensing|Article 1. Licensing.|Sec. 06.60.027. Background checks.

(a) To apply for a mortgage loan originator license or a mortgage license, the applicant shall, at a minimum, furnish information concerning the applicant's identity to the registry or the department, including (1) fingerprints for submission to the Federal Bureau of Investigation and any governmental agency or entity authorized to receive that information for a state, national, and international criminal history background check; and (2) personal history and experience in a form prescribed by the registry and authorization for the registry and the department to obtain (A) an independent credit report from a consumer reporting agency; and (B) information related to administrative, civil, or criminal findings by a governmental jurisdiction. (b) For the purposes of this section, the department may use the registry as an agent for requesting information from and distributing information to the United States Department of Justice, another governmental agency, or another source directed by the department. (c) As part of the investigation of an application for a license under this chapter, the department or the registry shall (1) submit fingerprints of the applicant and a control person of the applicant to the governmental agency or entity authorized to receive the fingerprints for a state, national, or international criminal history background check under (a)(1) of this section; and (2) obtain an independent credit report and other information related to administrative, civil, or criminal findings regarding the applicant and each control person of the applicant under (a)(2) of this section.
AK Stat § 06.60.030 (2021)
2021 Alaska Statutes|Title 6. Banks and Financial Institutions|Chapter 60. Mortgage Licensing|Article 1. Licensing.|Sec. 06.60.030. Investigation.

The department shall investigate an applicant for a license to determine if the applicant satisfies the requirements of this chapter for the license.
AK Stat § 06.60.035 (2021)
2021 Alaska Statutes|Title 6. Banks and Financial Institutions|Chapter 60. Mortgage Licensing|Article 1. Licensing.|Sec. 06.60.035. Fees and expenses.

(a) When an applicant submits an application for a license under this chapter to the department, the applicant shall pay to the department (1) an application fee in partial payment of those investigation expenses incurred by the department; and (2) an annual license fee for the period that terminates on December 31 after the date the license is issued; after this payment, the annual license fee is due every year, subject to renewal by the department. (b) An applicant shall pay all reasonable costs and reasonable investigative fees incurred by the department before the department issues a license. (c) The fees imposed by this section are in addition to the fees charged by the registry and the business license fees assessed under AS 43.70 (Alaska Business License Act). (d) The department may establish by regulation the amount and manner of payment of application fees, examination fees, license fees, permit fees, investigation fees, and all administrative or other fees or penalties under this chapter. The fees established under this chapter are nonrefundable.
AK Stat § 06.60.038 (2021)
2021 Alaska Statutes|Title 6. Banks and Financial Institutions|Chapter 60. Mortgage Licensing|Article 1. Licensing.|Sec. 06.60.038. Prelicensing and relicensing education of mortgage loan originators.

(a) Before being licensed as a mortgage loan originator, an individual shall complete at least 20 hours of education approved under (b) of this section. At a minimum, the education must include (1) three hours of instruction in federal statutes and regulations relating to mortgage origination, fraud prevention, consumer protection, the nontraditional mortgage marketplace, and fair lending; (2) three 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 prelicensing education course must be approved under 12 U.S.C. 5104(c)(2) (Secure and Fair Enforcement for Mortgage Licensing Act of 2008). Review and approval of a prelicensing education course includes review and approval of the course provider. (c) Nothing in this section precludes a prelicensing 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) Prelicensing education may be offered in a classroom, on-line, or by other means approved under 12 U.S.C. 5104(c)(2) (Secure and Fair Enforcement for Mortgage Licensing Act of 2008).
AK Stat § 06.60.040 (2021)
2021 Alaska Statutes|Title 6. Banks and Financial Institutions|Chapter 60. Mortgage Licensing|Article 1. Licensing.|Sec. 06.60.040. Testing of mortgage loan originators.

(a) Before being licensed as a mortgage loan originator, an individual shall pass, under the standards established by this section, a qualified written test on appropriate subject areas, including federal and state law, under 12 U.S.C. 5104(d) (Secure and Fair Enforcement for Mortgage Licensing Act of 2008). (b) The department shall treat a written test as a qualified written test for purposes of (a) of this section if the department finds that the test adequately measures the applicant's knowledge and comprehension in appropriate subject areas, including (1) ethics; and (2) federal and state statutes and regulations relating to mortgage origination, fraud prevention, consumer protection, the nontraditional mortgage marketplace, and fair lending. (c) This section does not prohibit a test provider approved by the registry from providing a test at the location of the employer of the applicant, the location of a subsidiary or affiliate of the employer of the applicant, or the location of an entity with which the applicant holds an exclusive arrangement to conduct the business of a mortgage loan originator. (d) To pass a qualified written test, an applicant must answer at least 75 percent of the questions correctly. (e) An individual may retake a test three consecutive times, but each consecutive taking of a test must occur at least 30 days after taking the preceding test. (f) After failing three consecutive takings of the same test, an individual shall wait at least six months before retaking the test. (g) A licensed mortgage loan originator who fails to maintain a valid license for a period of five years or longer shall retake the test. The period without a valid license under this subsection does not include the time the individual is a registered mortgage loan originator. (h) The department may assess a fee for each administration of a qualified written test.
AK Stat § 06.60.045 (2021)
2021 Alaska Statutes|Title 6. Banks and Financial Institutions|Chapter 60. Mortgage Licensing|Article 1. Licensing.|Sec. 06.60.045. Bonding.

(a) An applicant for a mortgage license shall file with the application submitted to the department under AS 06.60.020, and an applicant for registration under AS 06.60.014 shall file with the application filed under AS 06.60.014, a bond with one or more sureties. The department shall establish by regulation the amount of the required bond and the standards and procedures for recovery on the bond. The bond must be satisfactory to the department. (b) The bond required by (a) of this section shall be for the use of the department, the Department of Law, or another person to recover for a claim for relief against the obligor under this chapter. The bond must state that the obligor will faithfully conform to and abide by the provisions of this chapter and all regulations adopted under this chapter and will pay the department, the Department of Law, or another person all money that may become due or owing to the department, the Department of Law, or the other person from the obligor under this chapter. (c) An applicant for a mortgage license that covers more than one location or an applicant for registration that covers more than one location is not required to file more than one bond. (d) The bond required under (a) of this section must be continuous until three years after the department revokes or otherwise terminates the license or registration. (e) If the department determines that the bond required under (a) of this section is unsatisfactory for any reason, the department may require the mortgage licensee or the registered depository institution to file with the department, within 10 days after the receipt of a written demand from the department, an additional bond that complies with the provisions of this section.
AK Stat § 06.60.050 (2021)
2021 Alaska Statutes|Title 6. Banks and Financial Institutions|Chapter 60. Mortgage Licensing|Article 1. Licensing.|Sec. 06.60.050. Decision on application.

(a) Within 30 days after the date the department determines that it has received a complete application under AS 06.60.020, the required bond if the application is for a mortgage license, and any required fees and investigative costs, the department shall either grant or deny the license. (b) If the department denies the license, the department shall promptly notify the applicant. The notification must state the reason for the denial and that the applicant is entitled to a hearing on the denial.
AK Stat § 06.60.060 (2021)
2021 Alaska Statutes|Title 6. Banks and Financial Institutions|Chapter 60. Mortgage Licensing|Article 1. Licensing.|Sec. 06.60.060. Determinations before licensing.

Before granting a license under this chapter, the department shall determine, at a minimum, that (1) the applicant has complied with the requirements of this chapter for obtaining the license; (2) the applicant, including a control person of the applicant, has (A) never had a mortgage lender, mortgage broker, or mortgage loan originator license revoked by a governmental jurisdiction, except that, if a revocation has been formally vacated, the revocation is not considered a revocation under this paragraph; in this paragraph, (i) a control person of an applicant for a mortgage license includes an entity over which the control person exercised control at the time of the revocation; and (ii) an applicant for a mortgage loan originator license includes an entity over which the applicant exercised control at the time of the revocation; (B) not been convicted of, or pled guilty or no contest to, a felony in a domestic, foreign, or military court during the seven-year period preceding the date of the application, or at any time preceding the date of application if the felony involved an act of fraud, dishonesty, a breach of trust, or money laundering; however, if the applicant has been pardoned for the conviction, the conviction is not considered a conviction under this subparagraph; (C) demonstrated financial responsibility, character, and general fitness sufficient to command the confidence of the community and to warrant a determination that the applicant will operate honestly, fairly, and efficiently within the purposes of this chapter; under this subparagraph, (i) an applicant does not show financial responsibility if the applicant has shown inattention to or neglect of the management of the person's own financial condition; (ii) a determination that an applicant has not shown financial responsibility may include current outstanding judgments against the applicant, except judgments related solely to a claim related to medical expenses; current outstanding tax liens or other government liens and filings against the applicant; foreclosures of the applicant's property within the three years preceding the date of the application; and a pattern by the applicant of seriously delinquent accounts within the three years preceding the date of the application; (3) the applicant for a mortgage loan originator license (A) has completed the prelicensing education requirement described in AS 06.60.038; (B) has passed a test that meets the requirements described in AS 06.60.040; and (C) has paid the fund fee as required by AS 06.60.550; and (4) the applicant for a mortgage license has provided a bond as required by AS 06.60.045.
AK Stat § 06.60.077 (2021)
2021 Alaska Statutes|Title 6. Banks and Financial Institutions|Chapter 60. Mortgage Licensing|Article 1. Licensing.|Sec. 06.60.077. Authority to issue provisional license.

(a) Subject to (b) of this section, the department may issue a provisional license to an applicant for a mortgage license if the department has made all determinations under AS 06.60.060 necessary for licensure except those determinations based on the criminal history background check required by AS 06.60.027. (b) A provisional license may be granted under this section if the (1) receipt by the department of the results of the criminal history background check is delayed more than 60 days after the date the fingerprints are submitted to the governmental agency that conducts the criminal history background check; and (2) delay described in (1) of this subsection is not caused by the applicant. (c) The duration of a provisional license issued under this section may not exceed 90 days.
AK Stat § 06.60.080 (2021)
2021 Alaska Statutes|Title 6. Banks and Financial Institutions|Chapter 60. Mortgage Licensing|Article 2. License Duration, Renewal, Inactivity, and Surrender.|Sec. 06.60.080. Duration of license.

Except for a provisional license issued under AS 06.60.077, a license issued under this chapter remains in effect until December 31 of the year in which the license is issued, unless the license is revoked, is suspended, is surrendered, or becomes inactive under this chapter.
AK Stat § 06.60.085 (2021)
2021 Alaska Statutes|Title 6. Banks and Financial Institutions|Chapter 60. Mortgage Licensing|Article 2. License Duration, Renewal, Inactivity, and Surrender.|Sec. 06.60.085. Renewal of license.

(a) If a licensee intends to renew a license, the licensee shall submit to the department (1) a renewal application at a time and in the form and manner established by the department and the registry; (2) the annual license fee; (3) if the renewal is for a mortgage license, (A) a report, as required by regulation, identifying any changes in the information provided to the department; and (B) current information indicating that the mortgage licensee continues to meet the minimum standards for license issuance; (4) if the renewal is for a mortgage loan originator license, (A) a report, as required by regulation, identifying any changes in the information provided to the department; (B) current information indicating that the mortgage loan originator continues to meet the minimum standards for license issuance; (C) certificates or other documents showing the mortgage loan originator has satisfied the annual continuing education requirements of AS 06.60.160; and (D) the fund fee required by AS 06.60.550; and (5) payment of any other required fees for renewal of the license. (b) The department may adopt by regulation procedures and deadlines regarding the filing of an application for renewal of a license and the assessment of a penalty or other consequence for late filing, consistent with the requirements of the registry. (c) The department shall approve or deny the application for renewal of a license not later than 60 days after the renewal application is filed.
AK Stat § 06.60.087 (2021)
2021 Alaska Statutes|Title 6. Banks and Financial Institutions|Chapter 60. Mortgage Licensing|Article 2. License Duration, Renewal, Inactivity, and Surrender.|Sec. 06.60.087. Standards for license renewal.

(a) After a licensee complies with AS 06.60.085, the department may renew the licensee's license if (1) the licensee continues to meet the standards for license issuance under AS 06.60.060; (2) in the case of a mortgage loan originator license, the mortgage loan originator licensee has satisfied the annual continuing education requirements of AS 06.60.160; (3) the licensee has paid all required fees for renewal of the license; and (4) the licensee is in compliance with the requirements of this chapter and regulations adopted and orders issued under this chapter. (b) If a licensee fails to satisfy (a) of this section, the license expires at the end of the period for which the license was issued. The department may adopt by regulation procedures for the reinstatement of expired licenses. The procedures must be consistent with the standards established by the registry.
AK Stat § 06.60.095 (2021)
2021 Alaska Statutes|Title 6. Banks and Financial Institutions|Chapter 60. Mortgage Licensing|Article 2. License Duration, Renewal, Inactivity, and Surrender.|Sec. 06.60.095. Reactivation of inactive license.

(a) A person who has an inactive license certificate under AS 06.60.090 may apply to the department for an active license and pay the required fees. To be eligible for license reactivation, the applicant shall comply with all requirements for licensure in effect at the time of reactivation. (b) If the department reactivates a license under this section, the license expires on December 31 of the year in which it is issued.
AK Stat § 06.60.097 (2021)
2021 Alaska Statutes|Title 6. Banks and Financial Institutions|Chapter 60. Mortgage Licensing|Article 2. License Duration, Renewal, Inactivity, and Surrender.|Sec. 06.60.097. Surrender of license.

(a) A licensee may surrender a license issued to the licensee by delivering written notice to the department that the licensee intends to surrender the license, except that a mortgage licensee may not surrender a license until all loans of that mortgage licensee have either been paid in full or sold. (b) [Repealed, § 87 ch 61 SLA 2010.] (c) Surrender of a license under this section does not affect the licensee's civil or criminal liability for acts committed before surrender of the license.