2005 Connecticut Code - Sec. 36a-523. (Formerly Sec. 36-224n). Applications and referrals from unlicensed secondary mortgage brokers.
Sec. 36a-523. (Formerly Sec. 36-224n). Applications and referrals from unlicensed secondary mortgage brokers. No person engaged in the business of making
secondary mortgage loans in this state, whether licensed in accordance with the provisions of sections 36a-510 to 36a-524, inclusive, or exempt from licensing, shall accept
applications or referral of applicants from, or pay a fee to, any secondary mortgage
broker who is required to be licensed under said sections but is not licensed to act as
such by the commissioner, if the lender has actual knowledge that the broker is not
licensed by the commissioner.
History: P.A. 94-122 made technical changes, effective January 1, 1995; Sec. 36-224n transferred to Sec. 36a-523 in 1995; P.A. 02-111 substituted "business of making secondary mortgage loans" for "secondary mortgage loan business", deleted "as a lender", and replaced reference to "broker" with reference to "secondary mortgage broker".
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