(a)

1. (1) Each type of application shall be in a form provided by the NMLS&R and approved by the Securities Commissioner.

2. (2) The application shall be:

   1. (A) Accompanied by all information required by this part or the Fair Mortgage Lending Act, Arkansas Code § 23-39-501 et seq.; and
   2. (B) Verified by:

(i) The oath of the applicant; and

1. (ii) If applicable, a principal officer of the applicant or licensee.

(b) All licensing fees required by the Fair Mortgage Lending Act shall be submitted with the application through NMLS&R.

1. (c) In addition to the documents and information required by this part, the commissioner may require additional information in order to enable the commissioner to make the determinations required by the Fair Mortgage Lending Act.

   1. (d)
2. (1) Applications submitted without the required fees or which are missing material information shall not be approved by the State Securities Department but held for a period of sixty (60) calendar days after notice to the applicant directly from the department or through NMLS&R, specifying the nature of the deficiency.

3. (2) If any such deficiency remains outstanding for more than sixty (60) days:

   1. (A) The application may automatically be considered abandoned without further action by the commission; and

   2. (B) The applicant may be required to:

      1. (i) Submit a new application; and
      2. (ii) Pay all fees associated with the subsequent new application.