'State licensed mortgage loan originator' means an individual who:(1) is a mortgage loan originator;(2) is not an employee of:(A) a depository institution;(B) a subsidiary that is:(i) owned and controlled by a depository institution; and(ii) regulated by the federal financial institutions regulatory agencies (as defined in 12 U.S.C. 3350(6)); or(C) an institution regulated by the Farm Credit Administration;(3) is licensed by:(A) a state; or(B) the Secretary of the United States Department of Housing and Urban Development under Section 1508 of the S.A.F.E. Mortgage Licensing Act of 2008 (Title V of P.L.110-289); and(4) is registered as a mortgage loan originator with, and maintains a unique identifier through, the Nationwide Multistate Licensing System.As added by P.L.175-2019, SEC.2. Amended by P.L.211-2019, SEC.30.
Indiana Legal Code