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Idaho Statutes Title 26. Banks and Banking § 26-31-309. License renewal and reinstatement requirements

Current as of January 01, 2024 | Updated by Findlaw Staff

(1) The minimum standards for license renewal for mortgage loan originators licensed under this part shall include the following:

(a) The mortgage loan originator continues to meet the minimum standards for license issuance pursuant to section 26-31-306, Idaho Code;

(b) The mortgage loan originator has satisfied the annual continuing education requirements pursuant to section 26-31-310, Idaho Code; and

(c) The mortgage loan originator has filed with the director through the NMLSR, on or before December 31 of each year, a renewal application containing such information as the director may require, accompanied by a nonrefundable annual license renewal fee of one hundred dollars ($100).

(2) If a mortgage loan originator fails to timely satisfy the provisions of subsection (1) of this section, notwithstanding the provisions of section 67-5254, Idaho Code, then his license automatically and immediately expires.

(3) The director may reinstate an expired license during the time period of January 1 through February 28, immediately following license expiration if the director finds that the former licensee meets the requirements for licensure under this part after submission to the director of:

(a) A complete application for renewal;

(b) The fees required to apply for license renewal unless previously paid for the period for which the license renewal applies; and

(c) A reinstatement fee of one hundred dollars ($100).

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Cite this article: FindLaw.com - Idaho Statutes Title 26. Banks and Banking § 26-31-309. License renewal and reinstatement requirements - last updated January 01, 2024 | https://codes.findlaw.com/id/title-26-banks-and-banking/id-st-sect-26-31-309/

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