By: Villarreal (Senate Sponsor - Carona) H.B. No. 1721
(In the Senate - Received from the House April 15, 2013;
May 7, 2013, read first time and referred to Committee on Business
and Commerce; May 16, 2013, reported favorably by the following
vote: Yeas 7, Nays 0; May 16, 2013, sent to printer.)
A BILL TO BE ENTITLED
AN ACT
relating to use of the Nationwide Mortgage Licensing System and
Registry in connection with the regulatory authority of the
consumer credit commissioner; affecting fees.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
SECTION 1. Subchapter C, Chapter 14, Finance Code, is
amended by adding Section 14.109 to read as follows:
Sec. 14.109. USE OF THE NATIONWIDE MORTGAGE LICENSING
SYSTEM AND REGISTRY. (a) In this section, "Nationwide Mortgage
Licensing System and Registry" or "nationwide registry" means a
licensing system developed and maintained by the Conference of
State Bank Supervisors and an affiliated organization to manage
mortgage licenses and other financial services licenses or a
successor registry.
(b) This section applies only to:
(1) this chapter; and
(2) Chapter 342, 348, 351, 393, or 394.
(c) The commissioner may require that a person submit
through the Nationwide Mortgage Licensing System and Registry in
the form and manner prescribed by the commissioner and acceptable
to the registry any information or document or payment of a fee
required to be submitted to the commissioner under:
(1) a chapter to which this section applies; or
(2) rules adopted under the chapter.
(d) The commissioner may use the nationwide registry as a
channeling agent for obtaining information required for licensing
or registration purposes under a chapter listed in Subsection
(b)(2) or rules adopted under the chapter, including:
(1) criminal history record information from the
Federal Bureau of Investigation, the United States Department of
Justice, or any other agency or entity at the commissioner's
discretion;
(2) information related to any administrative, civil,
or criminal findings by a governmental jurisdiction; and
(3) information requested by the commissioner
under Section 342.101(a)(4), 348.502(a)(3), 351.101(a)(4),
393.604(a)(5), or 394.204(c)(8).
SECTION 2. This Act takes effect September 1, 2013.
* * * * *