Enrolled HB 221: Relating to the state's participation in the federal Nationwide Mortgage Licensing System and Registry, and to mortgage lending regulation and licensing; and providing for an effective date.
00Enrolled HB 221 01 Relating to the state's participation in the federal Nationwide Mortgage Licensing System and 02 Registry, and to mortgage lending regulation and licensing; and providing for an effective 03 date. 04 _______________ 05 * Section 1. AS 06.60 is amended by adding a new section to article 9 to read: 06 Sec. 06.60.870. Authority to participate in national system and registry. 07 Notwithstanding another provision of law to the contrary, the department may take the 08 action that is necessary for the state to participate in the Nationwide Mortgage 09 Licensing System and Registry. The department may adopt emergency regulations 10 under AS 44.62 (Administrative Procedure Act) to implement this section, including 11 the adoption of regulations for the assessment of fees. In this section, "Nationwide 12 Mortgage Licensing System and Registry" has the meaning given in 12 U.S.C. 5102 13 (Secure and Fair Enforcement for Mortgage Licensing Act of 2008). 14 * Sec. 2. AS 06.60.870 is repealed July 1, 2014.
01 * Sec. 3. This Act takes effect immediately under AS 01.10.070(c).