3 AAC 14.434 - Change in control of mortgage licensee
(a) A mortgage
licensee shall apply to the department for approval of a change in control of
the mortgage licensee. An application for a change in control must be submitted
30 days before the change in control is effective.
(b) If a mortgage licensee seeks approval
from the department for a new control person of the licensee, the mortgage
licensee must submit a complete set of fingerprints to the department for the
proposed new control person of the mortgage licensee.
(c) When a mortgage licensee applies for
department approval of a change in control of the mortgage licensee, the
mortgage licensee shall pay to the department a fee of $300 per control person.
The mortgage licensee must also pay investigative expenses incurred by the
department under
AS
06.60.130 and
06.60.250, before the department
grants or denies the application.
(d) A mortgage licensee shall maintain at
least two control persons at all times, unless temporarily waives the
requirement of this subsection because circumstances beyond the mortgage
licensee's control make only one control person available the
department.
Notes
Authority:AS 06.60.027
AS 06.60.035
AS 06.60.130
AS 06.60.910
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