04 NCAC 03K .0203          CURRENT AUTHORIZED LENDER INFORMATION

(a)  An authorized lender shall notify the Commissioner within 30 days of the effective date of any material changes to the information on file with the Commissioner.

(b)  Notification to the Commissioner of all material changes shall be made on the authorized lender's letterhead and filed pursuant to Rule .0101(b) of this Subchapter.

(c)  For the purposes of this Rule, the term "material" shall mean any information which would be likely to influence the granting of authorization to engage in reverse mortgage lending.  The term "material" shall also include but not be limited to information concerning changes in the address of the authorized lenders, directors, corporate officers, partners, or the business structure.  It shall also include changes in the address of the authorized lender's main or branch offices and any names under which the applicant operates.

 

History Note:        Authority G.S. 53‑258(b),(d); 53-259; 53-271;

Eff. January 1, 1995.