1. (1) Before an individual may be licensed under this chapter, the individual shall pass a written examination that:

   1. (a) meets the requirements of 12 U.S.C. Sec. 5104(d);
   2. (b) is developed by the nationwide database; and
   3. (c) is administered by an approved examination provider.

2. (2) The commissioner shall make rules made in accordance with Title 63G, Chapter 3, Utah Administrative Rulemaking Act, that:

   1. (a) require that an individual comply at a minimum with the standards of 12 U.S.C. Sec. 5104(d); and

   2. (b) address:

      1. (i) what constitutes passing a written examination;
      2. (ii) the ability of an individual to retake a written examination if the individual fails the written examination; and
      3. (iii) when an individual is required to retake a written examination if an individual fails to maintain a valid license under this chapter after taking the written examination.

Enacted by Chapter 72, 2009 General Session