1. (1) The board may inactivate a state license or a registration with the nationwide mortgage licensing system and registry when a licensee has failed to:

   1. (a) Comply with the surety bond requirements of sections 12-10-704 (8) and 12-10-717;
   2. (b) Comply with the errors and omissions insurance requirement in section 12-10-707 or any rule of the board that directly or indirectly addresses errors and omissions insurance requirements;
   3. (c) Maintain current contact information, surety bond information, or errors and omissions insurance information as required by this part 7 or by any rule of the board that directly or indirectly addresses those requirements;
   4. (d) Respond to an investigation or examination;
   5. (e) Comply with any of the education or testing requirements set forth in this part 7 or in any rule of the board that directly or indirectly addresses education or testing requirements; or
   6. (f) Register with and provide all required information to the nationwide mortgage licensing system and registry.

Source: L. 2019: Entire title R&RE with relocations, (HB 19-1172), ch. 136, p. 694, § 1, effective October 1.

Editor's note: This section is similar to former § 12-61-903.3 as it existed prior to 2019.