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NY A02685
Bill
Status
1/17/2013
Primary Sponsor
Vanessa Gibson
Click for details
AI Summary
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Amends Banking Law Section 590 to require the Department of Financial Services to establish minimum educational requirements for all mortgage brokers through rules and regulations
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Modifies Section 592-a to require mortgage broker applicants to meet all departmental educational requirements and pass a licensing examination established by the article before registration
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Creates new Section 592-b directing the superintendent to establish a mortgage broker licensing examination and promulgate rules regarding the examination's timing, date, and administration
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Takes effect immediately upon enactment
Legislative Description
Establishes certain educational requirements, and directs and authorizes the superintendent to establish a mortgage broker licensing exam.
Last Action
enacting clause stricken
12/6/2013