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2011 Vermont Code
Title 08 Banking and Insurance
Chapter 73 LICENSED LENDERS
§ 2206 Contents of license; nontransferability; inactive status


8 VT Stats § 2206. (2011 through Adj Sess) What's This?

§ 2206. Contents of license; nontransferability; inactive status

(a) The license shall state the address at which the business is to be conducted and shall state fully the name of the licensee, and if the licensee is other than an individual, the date and place of its organization or incorporation. The commissioner may issue an electronic license. The license or a copy of the electronic license shall be kept conspicuously posted in the place of business of the licensee and shall not be transferable or assignable.

(b) The mortgage loan originator license shall fully state the name of the individual and the individual's place of residence. The commissioner may issue an electronic license. The mortgage loan originator license shall not be transferable or assignable.

(c) The license of a mortgage loan originator that has satisfied all of the requirements of licensure, other than being employed by a licensed lender or licensed mortgage broker, may be placed in an approved inactive status. (Amended 1995, No. 162 (Adj. Sess.), { 7, eff. Jan. 1, 1997; 2009, No. 29, { 1.)

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