Effective 1-1-2026. Sec. 502. (a) To establish consistent licensing between this state and other states, the director may: (1) implement all licensing provisions of this chapter in a manner that is consistent with other states that have adopted: (A) a law containing the same provisions of this chapter; or (B) multistate licensing processes; and (2) participate in nationwide protocols for licensing cooperation and coordination among state regulators if those protocols are consistent with this chapter. (b) To administer and enforce this chapter, the director may establish relationships or contracts with the NMLSR or other entities designated by the NMLSR to enable the director to: (1) collect and maintain records; (2) coordinate multistate licensing processes and supervision processes; (3) process fees; and (4) facilitate communication between the state and licensees or other persons subject to this chapter. (c) The director may use the NMLSR for all aspects of licensing in accordance with this chapter, including license applications, applications for acquisitions of control, surety bonds, reporting, criminal history background checks, credit checks, fee processing, and examinations. (d) The director may use NMLSR forms, processes, and functionalities in accordance with this chapter. If the NMLSR does not provide functionality, forms, or processes for a provision of this chapter, the director may implement the requirements in a manner that facilitates uniformity with respect to licensing, supervision, reporting, and regulation of licensees that are licensed in multiple jurisdictions. (e) For the purpose of participating in the NMLSR, the director is authorized to waive or modify, in whole or in part, by rule or order, any or all of the requirements for licensure and to establish new requirements as reasonably necessary to participate in the NMLSR.
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