(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.
Source: L. 2019: Entire title R&RE with relocations, (HB 19-1172), ch. 136, p. 694, § 1, effective October 1.