70D-3-202. Qualifications for licensure.
To qualify for a license under this chapter an individual shall comply with all of the following, the individual:
(1) shall comply with 12 U.S.C. Sec. 5104 to register with and maintain a unique identifier through the nationwide database;
(2) may not have had a loan originator license revoked in a governmental jurisdiction;
(3) may not have been convicted of, or pled guilty or no contest to, a felony: during the seven years preceding the day on which the individual files an application; or at any time, if the felony involves an act of: fraud; dishonesty; breach of trust; or money laundering;
(4) shall demonstrate financial responsibility, character, and general fitness such as to: command the confidence of the community; and warrant a determination that the individual will operate as a loan originator honestly, fairly, and efficiently within the purposes of this chapter;
(5) shall be covered by a surety bond posted in accordance with Section; 70D-3-205
(6) shall complete the prelicensing education required by Section; and 70D-3-301
(7) shall pass the written examination required by Section. 70D-3-302