Ohio Admin. Code 1301:8-7-26 - Challenge to information maintained in the NMLS
Current through all regulations passed and filed through March 11, 2022
Promulgated Under: 119.03
Statutory Authority: 1322.12, 1322.061(H)
Rule Amplifies: 1322.061
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§ 1301:8-7-26. Challenge to information maintained in the NMLS
(A) For purposes of division (H) of section 1322.061 of the Revised Code, an individual who has applied for, holds, or held a loan originator license may challenge information entered into the NMLS by the superintendent. Such challenge shall be in writing and must set forth the specific information being challenged and include supporting evidence. The grounds for a challenge shall be limited to the accuracy of the information entered into the NMLS by the superintendent, controlled by the superintendent, and pertaining to the individual's own license record. An individual shall not challenge substantive allegations, findings of fact or conclusions of law in prior orders issued by the superintendent or other disciplinary actions. Challenges are limited to clerical errors.
(B) The superintendent shall review the information submitted by the individual. If the superintendent determines that the information entered into the NMLS is incorrect, the superintendent shall enter the correct information and notify the individual in writing that the information has been corrected. If the superintendent determines that the information entered into the NMLS is correct, the superintendent shall notify the individual in writing of the reasons for this determination and that the information will not be changed.
(C) The determination of the superintendent is final and not subject to further challenge pursuant to this rule or appeal pursuant to Chapter 119. of the Revised Code.(Effective: 1/4/2016 Five Year Review (FYR) Dates: 07/20/2020 Promulgated Under: 119.03 Statutory Authority: 1322.12, 1322.061(H) Rule Amplifies: 1322.061)