DAR File No. 29518

Commerce, Real Estate

R162-206

Licensing Examination

NOTICE OF PROPOSED RULE

DAR File No.: 29518
Filed: 02/14/2007, 05:07
Received by: NL

RULE ANALYSIS

Purpose of the rule or reason for the change:

The provisions of this rule are being moved to Section R162-202-1. (DAR NOTE: The proposed amendment to Section R162-202-2 is under DAR No. 29517 in this issue, March 1, 2007, of the Bulletin.)

Summary of the rule or change:

The rule is repealed in its entirety, and its provisions are simultaneously being added to Section R162-202-1.

State statutory or constitutional authorization for this rule:

Subsection 61-2c-103(3)(a)(i)

Anticipated cost or savings to:

the state budget:

None--Moving provisions from one rule to another neither costs nor saves the state budget any money.

local governments:

None--Moving provisions from one rule to another neither costs nor saves local governments any money.

other persons:

None--Moving provisions from one rule to another neither costs nor saves other persons any money.

Compliance costs for affected persons:

The only persons affected by this rule are applicants for mortgage officer licenses. They do not incur any additional costs if provisions that are already in effect are moved from one rule to another.

Comments by the department head on the fiscal impact the rule may have on businesses:

This filing repeals a provision that is now consolidated with another provision regarding licensing examinations. No fiscal impact to businesses is anticipated. Francine A. Giani, Executive Director

The full text of this rule may be inspected, during regular business hours, at the Division of Administrative Rules, or at:

Commerce
Real Estate
HEBER M WELLS BLDG
160 E 300 S
SALT LAKE CITY UT 84111-2316

Direct questions regarding this rule to:

Shelley Wismer at the above address, by phone at 801-366-0145, by FAX at 801-366-0315, or by Internet E-mail at swismer@utah.gov

Interested persons may present their views on this rule by submitting written comments to the address above no later than 5:00 p.m. on:

04/02/2007

This rule may become effective on:

04/10/2007

Authorized by:

Derek Miller, Director

R162. Commerce, Real Estate.

[R162-206. Licensing Examination.

R162-206-1. Licensing Examination.

206.1 In order to register for the licensing examination, the applicant shall deliver an application to take the examination, together with the applicable examination fee to the testing service designated by the division. If the applicant registers for the examination but fails to take a scheduled examination, the examination fee will be forfeited unless the applicant has complied with the Change/Cancel Policy in the candidate handbook furnished to the applicant by the examination provider.

206.2 The licensing examination will be a multiple choice examination and will consist of a national portion and a Utah-specific portion. Both portions of the examination must be passed within a six-month period of time.

 

KEY: residential mortgage loan origination

Date of Enactment or Last Substantive Amendment: February 3, 2004

Authorizing, and Implemented or Interpreted Law: 61-2c-103(3); 61-2c-202(4)(a)(i)(C)]