Sec. 2. (a) An application for issuance or renewal of a principal manager license must be made on a form prescribed by the commissioner.

(b) An application under subsection (a) must include the following information for the individual who seeks to be licensed as a principal manager:

(1) The name of the individual.

(2) The home address of the individual.

(3) The home telephone number of the individual.

(4) The individual's Social Security number and date of birth.

(5) The name of the:

(A) loan broker; or

(B) applicant for a loan broker license;

by whom the individual seeks to be employed as a principal manager.

(6) Consent to service of process under section 9 of this chapter.

(7) Evidence that the individual has completed the education requirements described in IC 23-2.5-6.

(8) Evidence that the individual:

(A) has, in addition to the education requirements described in subdivision (7), completed an additional sixteen (16) hours of education acceptable to the commissioner, including four (4) hours on the topic of ethics; and

(B) has been a registered mortgage loan originator or state licensed mortgage loan originator through the Nationwide Multistate Licensing System for at least three (3) of the five (5) years immediately preceding the date of application under this section.

(9) An application fee of one hundred dollars ($100).

(10) All:

(A) registration numbers previously issued to the individual under IC 23-2-5 if the applicant was registered as an originator or a principal manager under IC 23-2-5 before its repeal on July 1, 2019; and

(B) license numbers previously issued to the individual under IC 23-2-5 (before its repeal) or this article.

(11) The name of each individual who is a mortgage loan originator and the location of any loan broker offices for which the individual is designated by the loan broker as supervising principal manager.

(12) Written authorization for the commissioner or an agent of the commissioner to obtain a consumer report (as defined in IC 24-5-24-2) concerning the individual.

As added by P.L.175-2019, SEC.2.