Alaska Administrative Code
Title 3 - Commerce, Community, and Economic Development
Part 1 - Banking, Securities, Small Loans and Corporations
Chapter 14 - Mortgage Lending
Article 1 - Licensing
3 AAC 14.062 - Sponsorship

(a) A mortgage loan originator license will not be granted to an applicant, unless a mortgage licensee or a registered depository institution sponsors the mortgage loan originator in the registry.

(b) The sponsorship of a mortgage loan originator licensee by a mortgage licensee or a registered depository institution is not effective until it is approved by the department in the registry.

(c) To operate as a mortgage loan originator licensee in the state, an individual must maintain a sponsorship by a mortgage licensee or a registered depository institution in the registry approved by the department.

(d) A mortgage loan originator licensee may be sponsored by only one mortgage licensee or one registered depository institution under AS 06.60.159.