Alaska Stat. § 06.60.012
This is the official text of Alaska Stat. § 06.60.012, part of Alaska’s Stat — part of the compiled statutory law of Alaska, published by the state as "Stat." Browse the sections below, each linked to its official government source.
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Mortgage loan originator license required.
Official statutory text
(a) Unless exempt under AS 06.60.015 , an individual may not operate in the state as a mortgage loan originator with respect to a dwelling located in the state unless the individual is licensed as a mortgage loan originator under this chapter.
(b) An individual required to be licensed as a mortgage loan originator shall (1) register with the registry and maintain a valid unique identifier issued by the registry;
(2) work under (A) an exclusive contract for, or as an employee of, a mortgage licensee; or
(B) an exclusive contract for a registered depository institution; and
(3) be sponsored in the registry by a mortgage licensee under a sponsorship approved in the registry by the department or be sponsored by a registered depository institution under AS 06.60.014 ; in this paragraph, sponsored means authorized to conduct business as a mortgage loan originator under the supervision of a mortgage licensee or a registered depository institution.
(b) An individual required to be licensed as a mortgage loan originator shall (1) register with the registry and maintain a valid unique identifier issued by the registry;
(2) work under (A) an exclusive contract for, or as an employee of, a mortgage licensee; or
(B) an exclusive contract for a registered depository institution; and
(3) be sponsored in the registry by a mortgage licensee under a sponsorship approved in the registry by the department or be sponsored by a registered depository institution under AS 06.60.014 ; in this paragraph, sponsored means authorized to conduct business as a mortgage loan originator under the supervision of a mortgage licensee or a registered depository institution.
Status: in_force · Read it on the official government site
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