2006 Louisiana Laws - RS 6:1086 — Licensure requirement

PART II.  LICENSURE, REGISTRATION,

AND CERTIFICATION

§1086.  Licensure requirement

A.  Beginning January 1, 2000, no person shall engage in any residential mortgage lending activity in this state unless such person has first obtained a license in accordance with the provisions of this Chapter.  Any person engaged in residential mortgage lending activities in this state on January 1, 1999, may continue to be so engaged and shall by March 1, 2000, have applied for a license and by July 1, 2000, have obtained a license.

B.  Any mortgage broker license in effect on July 9, 1999, shall remain in effect and shall be renewed after January 1, 2000, in accordance with the provisions of this Chapter.

C.  Any mortgage broker or lender engaged in residential mortgage lending activities pursuant to an exemption granted under R.S. 6:1087(C), with an active registration filed pursuant to R.S. 6:1087(D), may continue to be so engaged until expiration of the exemption on January 1, 2004.  Thereafter, no mortgage broker or lender previously exempt pursuant to R.S. 6:1087(C) may engage in residential mortgage lending activity without a license.

Acts 1999, No. 1098, §1, eff. July 9, 1999; Acts 2003, No. 875, §1.