Ohio § 1322.29
Full text of Ohio Ohio Revised Code § 1322.29, with citation guidance and answers to common questions.
§ 1322.29.
(A) A registrant or entity holding a valid letter of exemption under division (B)(1) of section 1322.05 of the Revised Code shall supervise all business of a mortgage loan originator conducted at the principal
office, any branch office, or other location used by the individual mortgage loan
originator. (B) If a mortgage loan originator's employment or association is terminated for any reason,
the licensee may request the transfer of the license to another registrant by submitting
a transfer application, along with a fifteen-dollar fee and any fee required by the
national mortgage licensing system and registry, to the superintendent of financial
institutions or may request the superintendent in writing to hold the license in escrow. Any licensee whose license is held in escrow shall cease activity as a mortgage
loan originator. A licensee whose license is held in escrow shall be required to apply for renewal
annually and to comply with the annual continuing education requirement. (C) A registrant may employ or be associated with a mortgage loan originator on a temporary
basis pending the transfer of the mortgage loan originator's license to the registrant,
if the registrant receives written confirmation from the superintendent that the mortgage
loan originator is licensed under this chapter. (D) Notwithstanding divisions (A) to (C) of this section, if a licensee is employed by
or associated with a person or entity holding a valid letter of exemption under division (B)(1) of section 1322.05 of the Revised Code , and if the mortgage loan originator's employment or association is terminated, the
mortgage loan originator shall notify the superintendent within five business days
after termination. The licensee may request the transfer of the license to another person or entity
holding a valid letter of exemption under division (B)(1) of section 1322.05 of the Revised Code by submitting a transfer application, along with a fifteen-dollar fee and any fee
required by the national mortgage licensing system and registry, to the superintendent
or may request the superintendent in writing to hold the license in escrow. A licensee whose license is held in escrow shall cease activity as a mortgage loan
originator. A licensee whose license is held in escrow shall be required to apply for renewal
annually and to comply with the annual continuing education requirement. (E) A licensee may seek to be employed by or associated with a registrant or a person
or entity holding a valid letter of exemption under division (B)(1) of section 1322.05 of the Revised Code , if the registrant receives written confirmation from the superintendent that the
mortgage loan originator is licensed under this chapter.
Frequently Asked Questions About Ohio § 1322.29
What does Ohio Revised Code § 1322.29 cover?
Section 1322.29 is part of the Ohio Revised Code, the codified statutory law of Ohio. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Ohio § 1322.29?
A common citation format is "Ohio Revised Code § 1322.29" (Ohio). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Ohio law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Ohio official source linked on this page or consult a licensed Ohio attorney.
How does Ohio § 1322.29 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Ohio can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Ohio.