A mortgage licensee may only transfer or assign the licensee's business if
(1) an application is made to the department to transfer or assign the business to another mortgage licensee with the same type of mortgage license as the transferring or assigning mortgage licensee;
(2) at least 30 days before the effective date of the proposed transfer or assignment, the department determines it has received a complete application from the proposed assignee or transferee; and
(3) the department determines that the proposed transferee or assignee complies with AS 06.60.060.
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