Alaska Statutes 06.60.087 – Standards for license renewal

(a) After a licensee complies with Alaska Stat. § 06.60.085, the department may renew the licensee’s license if

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Terms Used In Alaska Statutes 06.60.087

department: means the Department of Commerce, Community, and Economic Development. See Alaska Statutes 06.60.990
license: means a license issued under this chapter. See Alaska Statutes 06.60.990
licensee: means a person who holds a license issued under this chapter. See Alaska Statutes 06.60.990
Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
registry: means the Nationwide Mortgage Licensing System and Registry. See Alaska Statutes 06.60.990

(1) the licensee continues to meet the standards for license issuance under Alaska Stat. § 06.60.060;

(2) in the case of a mortgage loan originator license, the mortgage loan originator licensee has satisfied the annual continuing education requirements of Alaska Stat. § 06.60.160;

(3) the licensee has paid all required fees for renewal of the license; and

(4) the licensee is in compliance with the requirements of this chapter and regulations adopted and orders issued under this chapter.

(b) If a licensee fails to satisfy (a) of this section, the license expires at the end of the period for which the license was issued. The department may adopt by regulation procedures for the reinstatement of expired licenses. The procedures must be consistent with the standards established by the registry.

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