§ 286-8-260

286.8 -260 Continuing professional education required for persons registered under subtitle -- Termination and surrender of registration for failure to comply. (1) (a) Any person required to be registered under this subtitle shall complete at least eight (8) hours of continuing professional education on an annual basis that is approved and designated by the commissioner. (b) A minimum of one (1) hour of continuing professional education each year shall be instruction on the requirements of this subti tle, KRS 360.100, or a combination of both. (2) For the purposes of subsection (1) of this section: (a) The continuing professional education courses approved and designated by the commissioner shall: 1. Meet the minimum requirements set forth in Section 1 505(b) of the S.A.F.E. Mortgage Licensing Act, 12 U.S.C. sec. 5104(b), and amendments thereto; and 2. Unless the Nationwide Multistate Licensing System and Registry provides otherwise, be reviewed and approved by the Nationwide Multistate Licensing System and Registry; and (b) The commissioner may accept as credit towards the completion of the continuing professional education requirements in this state, the completion of continuing

e Licensing System and Registry; and (b) The commissioner may accept as credit towards the completion of the continuing professional education requirements in this state, the completion of continuing professional education requirements in any other state so long as the educa tion has met the requirements set forth in this subsection and subsection (1) of this section. (3) (a) For good cause shown, the commissioner may grant an extension during which the continuing professional education requirements of this section may be comp leted, but the extension may not exceed thirty (30) days. (b) What constitutes good cause for the extension of time rests within the discretion of the commissioner. (4) The registration of any mortgage loan originator that fails to comply with the continui ng professional education requirements of this section and who has not been granted an extension of time to comply in accordance with subsection (3) of this section shall: (a) Expire; and (b) Promptly be deemed surrendered to the commissioner without demand. Effective: July 14, 2022 History: Amended 2022 Ky. Acts ch. 125, sec. 12, effective July 14, 2022. -- Amended 2016 Ky. Acts ch. 129, sec.

tly be deemed surrendered to the commissioner without demand. Effective: July 14, 2022 History: Amended 2022 Ky. Acts ch. 125, sec. 12, effective July 14, 2022. -- Amended 2016 Ky. Acts ch. 129, sec. 9, effective July 15, 2016. -- Amended 2010 Ky. Act s ch. 24, sec. 791, effective July 15, 2010. -- Amended 2009 Ky. Acts ch. 104, sec. 19, effective June 25, 2009. -- Amended 2008 Ky. Acts ch. 175, sec. 18, effective April 24, 2008. -- Amended 2006 Ky. Acts ch. 218, sec. 8, effective July 12, 2006. -- Crea ted 2003 Ky. Acts ch. 64, sec. 7, effective June 24, 2003. Formerly codified as KRS 294.260. Legislative Research Commission Note (7/12/2006). This section was amended in 2006 Ky. Acts ch. 218. In that same session, 2006 Ky. Acts ch. 247, sec. 38, require d that all sections of KRS Chapters 287, 288, 290, 291, 294, 366, 366A, and 368 be renumbered as sections of a single KRS chapter entitled the 'Kentucky Financial Services Code.' Therefore, the Statute Reviser, acting under KRS 7.136(1), has changed the nu mber of this section and codified it as a section of KRS Chapter 286. In addition a KRS reference has been adjusted to conform with the renumbering.