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.
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.