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AN ACT
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relating to the prelicensing education requirements for |
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residential mortgage loan originators. |
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BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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SECTION 1. Section 180.056(h), Finance Code, is amended to |
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read as follows: |
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(h) An individual who fails to maintain a residential |
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mortgage loan originator license for the period of time established |
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by rule of the rulemaking authority [at least five consecutive
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years] must retake the prelicensing education requirements |
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prescribed by the S.A.F.E. Mortgage Licensing Act. |
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SECTION 2. This Act takes effect January 1, 2018. |
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______________________________ |
______________________________ |
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President of the Senate |
Speaker of the House |
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I certify that H.B. No. 3342 was passed by the House on May 4, |
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2017, by the following vote: Yeas 143, Nays 0, 2 present, not |
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voting; and that the House concurred in Senate amendments to H.B. |
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No. 3342 on May 26, 2017, by the following vote: Yeas 144, Nays 0, |
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2 present, not voting. |
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______________________________ |
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Chief Clerk of the House |
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I certify that H.B. No. 3342 was passed by the Senate, with |
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amendments, on May 24, 2017, by the following vote: Yeas 31, Nays |
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0. |
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______________________________ |
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Secretary of the Senate |
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APPROVED: __________________ |
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Date |
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__________________ |
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Governor |