| (a) A license may be renewed upon:
(1) submission of a completed application for renewal
through NMLS together with payment of the applicable renewal application
fee;
(2) a determination that the applicant continues to
meet the minimum requirements for licensure; and
(3) satisfactory evidence provided to the Department
that the license holder has completed the continuing education requirements
of Finance Code §180.060.
(b) Commissioner's Discretion to Approve with a Deficiency.
The Commissioner may, in her or her sole discretion, approve a renewal
application with a deficiency the Commissioner deems to be minor in
nature so as to allow the licensee to continue conducting licensed
activity while the deficiency is resolved. An application approved
by the Commissioner with a pending deficiency will be assigned in
NMLS the license status code "Approved - Deficient." Approval of the
application by this method does not relieve the licensee of the obligation
to resolve the deficiency noted. Failure to resolve such deficiency
is grounds for the Commissioner to take disciplinary action against
the licensee, including suspension or revocation of the license.
(c) Supplemental Information. The Commissioner may
require such additional, clarifying, or supplemental information from
any applicant for the renewal of any license pursuant to Finance Code
Chapters 157 and 180 as is deemed by the Commissioner to be necessary
or advisable to determine compliance with the requirements of Finance
Code Chapters 157 and 180.
(d) Reinstatement. The provisions of this section also
apply to an individual seeking reinstatement of a recently-expired
license, as provided by Tex. Fin. Code §157.016, and should be
construed accordingly.
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