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Kentucky Revised Statutes Title XXV. Business and Financial Institutions § 286.8-260.Continuing professional education required for persons registered under subtitle; termination and surrender of registration for failure to comply

Current as of January 01, 2025 | Updated by Findlaw Staff

(1)(a) Any person required to be registered under this subtitle shall complete at least eight (8) hours of continuing professional education on an annual basis that is approved and designated by the commissioner.

(b) A minimum of one (1) hour of continuing professional education each year shall be instruction on the requirements of this subtitle,KRS 360.100, or a combination of both.

(2) For the purposes of subsection (1) of this section:

(a) The continuing professional education courses approved and designated by the commissioner shall:

1. Meet the minimum requirements set forth in Section 1505(b) of the S.A.F.E. Mortgage Licensing Act, 12 U.S.C. sec. 5104(b), and amendments thereto; and

2. Unless the Nationwide Multistate Licensing System and Registry provides otherwise, be reviewed and approved by the Nationwide Multistate Licensing System and Registry; and

(b) The commissioner may accept as credit towards the completion of the continuing professional education requirements in this state, the completion of continuing professional education requirements in any other state so long as the education has met the requirements set forth in this subsection and subsection (1) of this section.

(3)(a) For good cause shown, the commissioner may grant an extension during which the continuing professional education requirements of this section may be completed, but the extension may not exceed thirty (30) days.

(b) What constitutes good cause for the extension of time rests within the discretion of the commissioner.

(4) The registration of any mortgage loan originator that fails to comply with the continuing professional education requirements of this section and who has not been granted an extension of time to comply in accordance with subsection (3) of this section shall:

(a) Expire; and

(b) Promptly be deemed surrendered to the commissioner without demand.

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Cite this article: FindLaw.com - Kentucky Revised Statutes Title XXV. Business and Financial Institutions § 286.8-260.Continuing professional education required for persons registered under subtitle; termination and surrender of registration for failure to comply - last updated January 01, 2025 | https://codes.findlaw.com/ky/title-xxv-business-and-financial-institutions/ky-rev-st-sect-286-8-260/

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