1. (A) This chapter may be cited as the Licensing of Mortgage Brokers Act.

2. (B) A person may not broker a mortgage loan as defined in this chapter unless the broker of the mortgage loan:

   1. (1) is an exempt person as defined by Section 40-58-20(16); or
   2. (2) has complied with the provisions of this chapter.

HISTORY: 2009 Act No. 67, Section 5.

Editor's Note

Prior Laws:1988 Act No. 544; 1993 Act No. 172, Section 1; 1998 Act No. 336, Section 2; 2005 Act No. 7, Section 1.