1. (a) An individual may not act as a principal manager in Indiana unless the individual first obtains a:

   1. (1) unique identifier from the Nationwide Multistate Licensing System; and
   2. (2) principal manager license from the commissioner.

2. (b) An individual may not act as a mortgage loan originator in Indiana unless the individual first obtains a:

   1. (1) unique identifier from the Nationwide Multistate Licensing System; and
   2. (2) mortgage loan originator license from the commissioner.
3. (c) An individual desiring to act as a principal manager or mortgage loan originator on behalf of a loan broker shall apply to the commissioner for a principal manager license or a mortgage loan originator license under this article, as applicable.

As added by P.L.175-2019, SEC.2.