An unlawful act or violation of this part 7 upon the part of an agent or employee of a licensed mortgage loan originator shall not be cause for disciplinary action against a mortgage loan originator unless it appears that the mortgage loan originator knew or should have known of the unlawful act or violation or had been negligent in the supervision of the agent or employee.Renumbered from C.R.S. § 12-61-911.5 and amended by 2019 Ch. 136, § 1, eff. 10/1/2019.L. 2007: Entire section added, p. 1742, § 13, effective 1/1/2008. L. 2009: Entire part amended, (HB 09 -1085), ch. 303, p. 1633, § 1, effective August 5.This section is similar to former § 12-61-911.5 as it existed prior to 2019.
Colorado Legal Code