<?xml version='1.0' encoding='utf-8'?>
<section article="gfi" article_name="Financial Institutions" number="11-612.2" title_number="11" title_name="Consumer Credit" subtitle_number="6" subtitle_name="Mortgage Loan Originators">
  <level label="a">
    <level label="1">
      <text>In this section the following words have the meanings indicated.</text>
    </level>
    <level label="2">
      <text>“Active service member” has the meaning stated in § 9–901 of the State Government Article.</text>
    </level>
    <level label="3">
      <level label="i">
        <text>“Eligible spouse” means the spouse of an active service member or eligible veteran.</text>
      </level>
      <level label="ii">
        <text>“Eligible spouse” includes a surviving spouse of:</text>
        <level label="1">
          <text>An eligible veteran; or</text>
        </level>
        <level label="2">
          <text>An active service member who died before the date on which the license application, renewal, or change of status is submitted.</text>
        </level>
      </level>
    </level>
    <level label="4">
      <text>“Eligible veteran” means a veteran who was discharged from active duty before the date on which the license application, renewal, or change of status is submitted.</text>
    </level>
  </level>
  <level label="b">
    <text>To expedite the renewal or change of status of a license for an active service member, eligible veteran, or eligible spouse, the Commissioner may waive or suspend any licensing requirements to the extent that the waiver or suspension does not result in the failure to meet the minimum licensing standards set forth in 12 U.S.C. Chapter 51 and the regulations adopted under it.</text>
  </level>
  <level label="c">
    <text>To expedite the issuance of a license to an active service member, eligible veteran, or eligible spouse who holds a valid mortgage loan originator license in another state, the Commissioner may waive or suspend any licensing requirements to the extent that the waiver or suspension does not result in the failure to meet the minimum licensing standards set forth in 12 U.S.C. Chapter 51 and the regulations adopted under it.</text>
  </level>
  <level label="d">
    <text>An individual authorized to practice in the State under § 10–14B–03 of the State Government Article may not be required to apply for expedited licensure under this section to practice in the State.</text>
  </level>
  <level label="e">
    <text>The Commissioner shall publish prominently on the Commissioner’s website, or have published on a third–party website used for licensing mortgage loan originators in the State, the expedited processes for the issuance, renewal, or change of status of a license under this section.</text>
  </level>
  <level label="f">
    <text>The Commissioner may adopt regulations to carry out this section.</text>
  </level>
</section>
