1. A. No licensee shall submit more than five names as nominees to serve on the testing committee. The resumes of the nominees shall be included. The names and resumes shall be submitted to the Director no later than August 1 of each even-numbered year. On or before September 30 of each even-numbered year, the Director shall appoint four persons from the nominees submitted and one employee of the Department as members of the testing committee. A person may serve more than one two-year term. If the Director does not find at least four persons from the list to be acceptable, the Director shall solicit additional nominees from licensees.
2. B. In the event of a vacancy on the testing committee, the remaining members of the committee shall submit a list of nominees within 45 days of the vacancy to the Director containing not less than two nominees for each vacancy. The Director shall then appoint a nominee from the list to fill each vacancy for the remainder of the term. If the Director does not find at least one person from the list to be acceptable to fill each vacancy, the remaining members of the committee shall, upon request, submit an additional list of nominees to the Director.
3. C. The Director may remove any member of the committee at any time without cause.
4. D. The committee shall review and revise questions on the test not less than once every two years. All questions used on the test shall first be submitted to and approved by the Director.
5. E. The handbook for mortgage brokers shall be updated by the committee as necessary to reflect changes in the law.

Historical Note

Adopted effective August 14, 1991 (Supp. 91-3). R20-4-920 recodified from R4-4-920 (Supp. 95-1). Amended by final rulemaking at 31 A.A.R. 2313 (July 11, 2025), effective August 17, 2025 (Supp. 25-2).