State Codes and Statutes
Statutes > Vermont > Title-08 > Chapter-73 > 2240
§ 2240. Nationwide mortgage licensing system and registry
(a) In furtherance of the commissioner's duties under this chapter, the commissioner may participate in the Nationwide Mortgage Licensing System and Registry and may take such action regarding participation in the licensing system as the commissioner deems necessary to carry out the purposes of this section, including:
(1) Issue rules or orders, and may establish procedures, to further participation in the Nationwide Mortgage Licensing System and Registry.
(2) Facilitate and participate in the establishment and implementation of the Nationwide Mortgage Licensing System and Registry.
(3) Establish relationships or contracts with the Nationwide Mortgage Licensing System and Registry or other entities designated by the Nationwide Mortgage Licensing System and Registry.
(4) Authorize the Nationwide Mortgage Licensing System and Registry to collect and maintain records and to collect and process any fees associated with licensure on behalf of the commissioner.
(5) Require persons engaged in activities that require a license under this chapter to utilize the Nationwide Mortgage Licensing System and Registry for license applications, renewals, amendments, surrenders, and such other activities as the commissioner may require, and to pay through the national licensing system all fees provided for under this chapter.
(6) Authorize the Nationwide Mortgage Licensing System and Registry to collect fingerprints on behalf of the commissioner in order to receive or conduct criminal history background checks, and in order to reduce the points of contact which the Federal Bureau of Investigation may have to maintain for purposes of this subsection the commissioner may use the Nationwide Mortgage Licensing System and Registry as a channeling agent for requesting information from and distributing information to the Department of Justice or any governmental agency.
(7) In order to reduce the points of contact which the commissioner may have to maintain for purposes of subsection 2202(c) of this chapter the commissioner may use the Nationwide Mortgage Licensing System and Registry as a channeling agent for requesting and distributing information to and from any source so directed by the commissioner.
(b) The commissioner may require persons engaged in activities that require a license under this chapter to submit fingerprints, and the commissioner may utilize the services of a Nationwide Mortgage Licensing System and Registry to process the fingerprints and to submit the fingerprints to the Federal Bureau of Investigation, the Vermont state police, or any equivalent state or federal law enforcement agency for the purpose of conducting a criminal history background check. The licensee or applicant shall pay the cost of such criminal history background check, including any charges imposed by the Nationwide Mortgage Licensing System and Registry.
(c) Persons engaged in activities that require licensure pursuant to this chapter shall pay all applicable charges to utilize the Nationwide Mortgage Licensing System and Registry, including such processing charges as the administrator of the Nationwide Mortgage Licensing System and Registry shall establish, in addition to the fees required under this chapter.
(d) The Nationwide Mortgage Licensing System and Registry is not intended to and does not replace or affect the commissioner's authority to grant, deny, suspend, revoke, or refuse to renew licenses. (Added 2007, No. 178 (Adj. Sess.), § 2, eff. May 28, 2008; amended 2009, No. 29, § 1.)
