Alaska Administrative Code
Title 3 - Commerce, Community, and Economic Development
Part 1 - Banking, Securities, Small Loans and Corporations
Chapter 14 - Mortgage Lending
Article 5 - License Duration, Renewal, Inactivity, and Surrender
3 AAC 14.305 - Termination of employment relationship and reactivation

(a) If a relationship between a mortgage licensee or a registered depository institution and a mortgage loan originator is terminated, the mortgage licensee, the registered depository institution, or the mortgage loan originator shall terminate the sponsorship through the registry. The termination is effective when reported to the department through the registry.

(b) When a relationship between a mortgage licensee or a registered depository institution and a mortgage loan originator is terminated, the mortgage loan originator license becomes inactive and the mortgage loan originator may not operate as a mortgage loan originator until the department has

(c) To maintain an inactive mortgage loan originator license, a mortgage loan originator licensee must

(d) The department will not charge a fee for the reactivation of a license that becomes inactive due to a termination of a relationship between a mortgage licensee or a registered depository institution and a mortgage loan originator.