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Rule: 2.59.1707 Prev     Up     Next    
Rule Title: REVOCATION, SUSPENSION, OR SURRENDER OF LICENSE
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Department: ADMINISTRATION
Chapter: BANKING AND FINANCIAL INSTITUTIONS
Subchapter: Mortgage Broker and Loan Originator Licensing
 
Latest version of the adopted rule presented in Administrative Rules of Montana (ARM):

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2.59.1707    REVOCATION, SUSPENSION, OR SURRENDER OF LICENSE

(1) A licensee may offer to surrender a license by submitting an offer of surrender or withdrawal of a license through the NMLS. An offer of surrender or accepted surrender does not affect the licensee's civil or criminal liability for acts initiated or committed while licensed.

(2) A revocation, suspension, or surrender of a license does not impair or affect the obligation of a preexisting lawful contract between the licensee and any person, including a borrower.

(3) In the event of a revoked, suspended, or surrendered mortgage broker, mortgage lender, or loan originator license, no fees will be refunded by the department.

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History: 32-9-130, MCA; IMP, 32-9-126, MCA; NEW, 2004 MAR p. 1133, Eff. 5/7/04; AMD, 2010 MAR p. 307, Eff. 2/12/10; AMD, 2012 MAR p. 1762, Eff. 9/7/12.


 

 
MAR Notices Effective From Effective To History Notes
2-59-462 9/7/2012 Current History: 32-9-130, MCA; IMP, 32-9-126, MCA; NEW, 2004 MAR p. 1133, Eff. 5/7/04; AMD, 2010 MAR p. 307, Eff. 2/12/10; AMD, 2012 MAR p. 1762, Eff. 9/7/12.
2-59-414 2/12/2010 9/7/2012 History: 32-9-130, MCA; IMP, 32-9-126, MCA; NEW, 2004 MAR p. 1133, Eff. 5/7/04; AMD, 2010 MAR p. 307, Eff. 2/12/10.
5/7/2004 2/12/2010 History: 32-9-130, MCA; IMP, 32-9-126, MCA; NEW, 2004 MAR p. 1133, Eff. 5/7/04.
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