Section 54-14-20.1 - Exemption of certain persons from mortgage loan originator license requirementThe following are exempt from the requirement of obtaining a mortgage loan originator license:
(1) Any individual who offers or negotiates terms of a mortgage loan with or on behalf of an immediate family member of the individual;(2) Any individual who offers or negotiates terms of a residential mortgage loan secured by a dwelling that served as the individual's residence; or(3) Any individual who, on, before, or after July 1, 2017, offers or negotiates terms of five or fewer nonresidential mortgage loans in a twelve-month period as long as the total amount of the loans outstanding does not exceed four million dollars.SL 2009, ch 251, §23; SL 2012, ch 237, §1; SL 2017, ch 207, §2.Amended by S.L. 2017, ch. 207,s. 2, eff. 7/1/2017.