SB 187 Summary

• Authorizes the state department to participate in the federal Nationwide Mortgage Licensing System and Registry as defined in 12 U.S.C. 5102 (Secure and Fair Enforcement for Mortgage Licensing Act of 2008).

• Permits the department to adopt emergency regulations under Alaska's Administrative Procedure Act to implement participation in the national system, including regulations for fee assessments.

• Overrides conflicting state law provisions to enable the state's participation in the nationwide mortgage licensing system.

• Takes effect immediately upon enactment.