N.Y. Comp. Codes R. & Regs. tit. 3 § 420.7
Current through Register Vol. 46, No. 43, October 23, 2024
The license of an MLO is not effective during any period when the MLO is not employed by or affiliated with an originating entity. When an MLO ceases to be employed by or affiliated with an originating entity, the originating entity shall promptly notify the superintendent of the termination date of such employment or affiliation. The license of such MLO shall be placed in inactive status until the superintendent receives confirmation from an originating entity of the MLO's new employment or affiliation. An MLO shall continue to pay the annual license fee and to take required education courses while in inactive status.
N.Y. Comp. Codes R. & Regs. Tit. 3 § 420.7