If the department revokes a mortgage license, the mortgage licensee shall divest itself of all outstanding loans that were issued under this chapter by selling or assigning them to another mortgage licensee. Divestment under this section must be approved by the department.
AS 06.60.230
Divestment
Known as the Alaska Secure and Fair Enforcement for Mortgage Licensing Act
The act spans §§ 6–6 (102 sections).
Official source: Alaska State Legislature. Reproduced from public-domain Alaska statutes; confirm against the official source for the current text. Not legal advice.