A mortgage licensee may only transfer or assign the licensee's business if
- (1) an application is made to the department to transfer or assign the business to another mortgage licensee with the same type of mortgage license as the transferring or assigning mortgage licensee;
- (2) at least 30 days before the effective date of the proposed transfer or assignment, the department determines it has received a complete application from the proposed assignee or transferee; and
- (3) the department determines that the proposed transferee or assignee complies with AS 06.60.060.