Sec 6-949. Conversion to mortgage broker license

Latest version.

Notwithstanding any other law, a licensee who funds in the aggregate one hundred fifty or fewer loans in the immediately preceding calendar year may apply at the time of license renewal to the department for a conversion to a mortgage broker license issued pursuant to article 1 of this chapter. The conversion application shall be in a manner prescribed by the superintendent by rule. The approval of the conversion is at the discretion of the superintendent.

                    
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