(a) To be issued an auxiliary mortgage loan activity company license, an applicant must:
(1) submit a completed application together with the payment of applicable fees through the Nationwide Mortgage Licensing System and Registry;
(2) designate control persons for the company through the Nationwide Mortgage Licensing System and Registry;
(3) designate an individual licensed as a residential mortgage loan originator under Chapter 157 as the company's qualifying individual; and
(4) not be in violation of this chapter, a rule adopted under this chapter, or any order previously issued by the commissioner to the applicant.
(b) Repealed by Acts 2013, 83rd Leg., R.S., Ch. 160, Sec. 87(5), eff. September 1, 2013.