Section 187.19.6. Notice of significant events.

A licensee shall notify the superintendent either directly in writing or through the NMLS&R within five business days of the occurrence of any of the following events.

       19.6(1) The licensee files for bankruptcy protection.

       19.6(2) A prosecuting authority files criminal charges against the licensee.

       19.6(3) Another state or jurisdiction institutes license denial, cease and desist, suspension or revocation procedures, or other formal or informal regulatory action against the licensee.

       19.6(4) The attorney general of Iowa, the Federal Trade Commission, or the enforcer of the consumer protection laws of any other jurisdiction initiates an action to enforce consumer protection laws against the licensee.

       19.6(5) The Federal National Mortgage Association, Federal Home Loan Mortgage Corporation, Federal Housing Administration, or Government National Mortgage Association suspends or terminates the licensee’s status as an approved loan originator.

       19.6(6) The licensee ceases engaging in activities requiring a license and wishes to surrender the licensee’s license. Although the licensee has surrendered the licensee’s license, the superintendent retains jurisdiction over the licensee’s activities during the time the individual was licensed.

       19.6(7) A change is made in the licensee’s name.

[ARC 8239B, IAB 10/21/09, effective 11/25/09]