The Florida Senate

¹494.0032  Renewal of mortgage brokerage business license or branch office license.--

(1)  The office shall renew a mortgage brokerage business license upon receipt of a completed renewal form and payment of a nonrefundable renewal fee of $375. Each licensee shall pay at the time of renewal a nonrefundable renewal fee of $225 for the renewal of each branch office license. The license for a branch office must be renewed in conjunction with the renewal of the mortgage brokerage business license.

(2)  The commission shall adopt rules establishing a procedure for the biennial renewal of mortgage brokerage business licenses and branch office licenses. The commission may prescribe the form for renewal and may require an update of all information provided in the licensee's initial application.

(3)  A mortgage brokerage business or branch office license that is not renewed by the end of the biennium established by the commission shall revert from active to inactive status. An inactive license may be reactivated within 6 months after becoming inactive by filing a completed reactivation form with the office, payment of the renewal fee, and payment of a nonrefundable reactivation fee of $100. A license that is not renewed within 6 months after the end of the biennial period automatically expires.

History.--ss. 19, 50, ch. 91-245; s. 4, ch. 91-429; s. 9, ch. 99-213; s. 528, ch. 2003-261; s. 8, ch. 2006-213; s. 26, ch. 2009-241.

¹Note.--

A.  Repealed October 1, 2010, by s. 26, ch. 2009-241.

B.  Effective September 1, 2010, s. 70(2), ch. 2009-241, provides that "[a]ll mortgage brokerage business licenses issued before October 1, 2010, pursuant to s. 494.0031 or s. 494.0032, Florida Statutes, expire on December 31, 2010. However, if a person holding an active mortgage brokerage business license issued before October 1, 2010, applies for a mortgage broker license through the Nationwide Mortgage Licensing System and Registry between October 1, 2010, and December 31, 2010, the mortgage brokerage business license does not expire until the Office of Financial Regulation approves or denies the mortgage broker license application. A mortgage broker license approved on or after October 1, 2010, is effective until December 31, 2011. Application fees may not be prorated for partial years of licensure."