3 CRR-NY SP MB 105.4NY-CRR
3 CRR-NY Sup. Proc. MB 105.4
3 CRR-NY SP MB 105.4
105.4 Application and undertaking.
(a) General requirements.
Any mortgage broker seeking to effectuate a change to an inactive status shall file a letter application with the superintendent requesting the change in status and explaining the reason for such request. The application shall be accompanied by the existing valid registration certificate, which will be returned stamped inactive, and an undertaking to the superintendent containing the following provisions:
(1) that the general assessment charged for each year of such inactive status is to be paid pursuant to sections 17 and 591-a(1) of the New York Banking Law;
(2) that at the superintendent's discretion the inactive broker continues to be subject to an examination of its books and records, the cost of which will be borne by the mortgage broker;
(3) that a written notification of intent to resume business will be filed with the superintendent at least 30 days prior to the resumption of business along with the registration certificate stamped inactive;
(4) that the superintendent will be immediately notified of any change in the official address of record of the mortgage broker;
(5) that the superintendent will be immediately notified of any change in the telephone number of record of the mortgage broker; and
(6) that an annual certification of inactive status shall be filed with the superintendent on a form provided by Mortgage Banking Division.
(b) Publications.
The superintendent shall publish receipt of the application in the department's weekly bulletin.
3 CRR-NY SP MB 105.4
Current through March 31, 2022
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IMPORTANT NOTE REGARDING CONTENT CURRENCY: The "Current through" date indicated immediately above is the date of the most recently produced official NYCRR supplement covering this rule section. For later updates to this section, if any, please: consult editions of the NYS Register published after this date; or contact the NYS Department of State Division of Administrative Rules at [email protected]. See Help for additional information on the currency of this unofficial version of NYS Rules.