(1) The board may inactivate a state license or a registration with the nationwide mortgage licensing system and registry when a licensee has failed to: (a) Comply with the surety bond requirements of sections 12-10-704 (8) and 12-10-717;(b) Comply with the errors and omissions insurance requirement in section 12-10-707 or any rule of the board that directly or indirectly addresses errors and omissions insurance requirements;(c) Maintain current contact information, surety bond information, or errors and omissions insurance information as required by this part 7 or by any rule of the board that directly or indirectly addresses those requirements;(d) Respond to an investigation or examination;(e) Comply with any of the education or testing requirements set forth in this part 7 or in any rule of the board that directly or indirectly addresses education or testing requirements; or(f) Register with and provide all required information to the nationwide mortgage licensing system and registry.Renumbered from C.R.S. § 12-61-903.3 and amended by 2019 Ch. 136, § 1, eff. 10/1/2019.L. 2009: Entire part amended, (HB 09 -1085), ch. 303, p. 1619, § 1, effective August 5. L. ng system and registry.Renumbered from C.R.S. § 12-61-903.3 and amended by 2019 Ch. 136, § 1, eff. 10/1/2019.L. 2009: Entire part amended, (HB 09 -1085), ch. 303, p. 1619, § 1, effective August 5. L. 2010: IP(1), (1)(b), (1)(c), and (1)(e) amended, (HB 10 -1141), ch. 280, p. 1288, § 7, effective August 11.This section is similar to former § 12-61-903.3 as it existed prior to 2019.
Colorado Legal Code