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A BILL TO BE ENTITLED
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AN ACT
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relating to use of the Nationwide Mortgage Licensing System and |
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Registry in connection with the regulatory authority of the |
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consumer credit commissioner. |
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BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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SECTION 1. Subchapter C, Chapter 14, Finance Code, is |
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amended by adding Section 14.109 to read as follows: |
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Sec. 14.109. USE OF THE NATIONWIDE MORTGAGE LICENSING |
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SYSTEM AND REGISTRY. (a) In this section, "Nationwide Mortgage |
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Licensing System and Registry" or "nationwide registry" means a |
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licensing system developed and maintained by the Conference of |
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State Bank Supervisors and an affiliated organization to manage |
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mortgage licenses and other financial services licenses or a |
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successor registry. |
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(b) This section applies only to: |
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(1) this chapter; and |
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(2) Chapter 342, 348, 351, 371, 393, or 394. |
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(c) The commissioner may require that a person submit |
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through the Nationwide Mortgage Licensing System and Registry in |
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the form and manner prescribed by the commissioner and acceptable |
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to the registry any information or document or payment of a fee |
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required to be submitted to the commissioner under: |
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(1) a chapter to which this section applies; or |
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(2) rules adopted under the chapter. |
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(d) The commissioner may use the nationwide registry as a |
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channeling agent for obtaining information required for licensing |
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or registration purposes under a chapter listed in Subsection |
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(b)(2) or rules adopted under the chapter, including: |
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(1) criminal history record information from the |
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Federal Bureau of Investigation, the United States Department of |
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Justice, or any other agency or entity at the commissioner's |
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discretion; |
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(2) information related to any administrative, civil, |
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or criminal findings by a governmental jurisdiction; and |
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(3) information requested by the commissioner |
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under Section 342.101(a)(4), 348.502(a)(3), 351.101(a)(4), |
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371.054(b)(2)(E), 371.103(a)(6), 393.604(a)(5), or 394.204(c)(8). |
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SECTION 2. This Act takes effect September 1, 2013. |