| (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; and
(2) a determination that the applicant continues to
meet the minimum requirements for licensure.
(b) Commissioner's Discretion to Approve with a Deficiency.
The Commissioner may, in his 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 regulated
activities under the license 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 constitutes 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 issued pursuant to Finance
Code Chapter 156 as is deemed by the Commissioner to be necessary
or advisable to determine compliance with the requirements of Finance
Code Chapter 156.
(d) Reinstatement. The provisions of this section also
apply to a person seeking reinstatement of a recently-expired license,
as provided by Tex. Fin. Code §156.2081, and should be construed
accordingly.
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| Source Note: The provisions of this §80.106 adopted to be effective July 5, 2012, 37 TexReg 4866; amended to be effective September 5, 2013, 38 TexReg 5702; amended to be effective November 4, 2021, 46 TexReg 7387 |
