If an individual who has been issued a mortgage loan originator license under this article, or a license or registration issued by another state or jurisdiction allowing the individual to perform mortgage loan origination activities:

1. (1) allows the individual's license or registration to lapse; or

2. (2) otherwise has not been a registered mortgage loan originator, been issued a mortgage loan originator license, or otherwise maintained a license or registration to perform mortgage loan origination activities;

   for a period of at least five (5) years, the individual must pass the written examination required by this chapter as a condition of relicensure or reregistration.

As added by P.L.175-2019, SEC.2. Amended by P.L.89-2024, SEC.19.