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A BILL TO BE ENTITLED
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AN ACT
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relating to prelicensing education requirements for a residential |
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mortgage loan originator license. |
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BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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SECTION 1. Section 180.056(h), Finance Code, is amended to |
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read as follows: |
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(h) An individual who fails to maintain a residential |
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mortgage loan originator license for a period of time established |
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by rule of the rulemaking authority [at least five consecutive
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years] must retake the prelicensing education requirements |
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prescribed by the S.A.F.E. Mortgage Licensing Act. |
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SECTION 2. This Act takes effect September 7, 2017. |