2006 Utah Code - 61-2c-207 — Reciprocal licensure.

     61-2c-207.   Reciprocal licensure.
     (1) The division may enter into a reciprocity agreement with another state and issue a reciprocal license to a licensee of that state if the division determines that the:
     (a) state has substantially equivalent licensing laws;
     (b) state requires a licensing examination that is substantially equivalent to the examination required by this chapter; and
     (c) licensee has not had:
     (i) formal charges alleging a violation of state mortgage laws filed against the licensee; or
     (ii) disciplinary action or license restriction taken by the licensee's state of domicile.
     (2) The division may issue a reciprocal license to a licensee of a state with which the division does not have a reciprocity agreement if the individual:
     (a) submits to the division an affidavit that the individual has five years of experience in the business of residential mortgage loans;
     (b) establishes that the individual's experience described in Subsection (2)(a) was under requirements substantially equivalent to the licensing requirements of this chapter; and
     (c) provides any other information required by the division by rule under Subsection (3).
     (3) In accordance with Title 63, Chapter 46a, Utah Administrative Rulemaking Act, the division shall define the information an individual shall provide to the division pursuant to Subsection (2).

Enacted by Chapter 297, 2004 General Session