Iowa Code r. 187-19.15 - Nonpayment of state debt
The superintendent shall deny the issuance or renewal of a mortgage loan originator license upon the receipt of a certificate of noncompliance from the centralized collection unit of the department of revenue according to the procedures in Iowa Code chapter 272D. In addition to the procedures set forth in Iowa Code chapter 272D, this rule shall apply.
(1) The notice required by Iowa Code section
272D.8 shall be served on the
mortgage loan originator or applicant by restricted certified mail, return
receipt requested, or personal service in accordance with the Iowa Rules of
Civil Procedure. Alternatively, the mortgage loan originator or applicant may
accept service personally or through authorized counsel.
(2) The effective date of the denial of
issuance or renewal of a license, as specified in the notice required by Iowa
Code section 272D.8, shall be 60 days
following service of the notice upon the mortgage loan originator or
applicant.
(3) The superintendent
is authorized to prepare and serve the notice required by Iowa Code section
272D.8 upon the mortgage loan
originator or applicant.
(4)
Mortgage loan originators and applicants shall keep the superintendent informed
of all court actions and all centralized collection unit actions taken under or
in connection with Iowa Code chapter 272D and shall provide the superintendent
copies, within seven days of filing or issuance, of all applications filed with
the district court pursuant to Iowa Code section
272D.9, all court orders entered
in such actions, and withdrawals of certificates of noncompliance by the
centralized collection unit.
(5)
All fees for applications, license renewals or reinstatements must be paid by
mortgage loan originators or applicants, and all continuing education
requirements must be met before a mortgage loan originator license will be
issued, renewed or reinstated after the superintendent has denied the issuance
or renewal of a mortgage loan originator license pursuant to Iowa Code chapter
272D.
This rule is intended to implement Iowa Code chapters 272D and 17A.
Notes
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