8-2712. Individual in control or seeking control; key individuals; background information; investigative background report; director; powers.
485 words·~2 min read·
/ne/chapter-8/8-2712A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
(1)Any individual in control of a licensee or applicant, any individual that seeks to acquire control of a licensee, and any key individual shall furnish to the director, through the Nationwide Mortgage Licensing System and Registry, the following items:
(a)The individual's fingerprints for submission to the Federal Bureau of Investigation and the director for purposes of a national criminal history background check unless the individual currently resides outside of the United States and has resided outside of the United States for the last ten years; and
(b)The individual's personal history and experience in a form and in a medium prescribed by the director, including the following:
(i)An independent credit report from a consumer reporting agency unless the individual does not have a social security number, in which case, this requirement shall be waived;
(ii)Information related to any criminal conviction or pending charges; and
(iii)Information related to any regulatory or administrative action and any civil litigation involving any claim of fraud, misrepresentation, conversion, mismanagement of funds, breach of fiduciary duty, or breach of contract.
(2)If the individual has resided outside of the United States at any time in the last ten years, the individual shall also provide an investigative background report prepared by an independent search firm that meets the following requirements:
(a)The firm shall, at a minimum:
(i)Demonstrate that the firm has sufficient knowledge and resources and employs accepted and reasonable methodologies to conduct the research of the background report; and
(ii)Not be affiliated with, or have an interest with, the individual it is researching; and
(b)The investigative background report shall be written in the English language and shall contain the following, at a minimum:
(i)If available in the individual's current jurisdiction of residency, a comprehensive credit report, or any equivalent information obtained or generated by the independent search firm to accomplish such report, including a search of the court data in the countries, provinces, states, cities, towns, and areas where the individual resided and worked;
(ii)Criminal record information of the individual for the past ten years, including, but not limited to, felonies, misdemeanors, or similar convictions for violations of law in the countries, provinces, states, cities, towns, and areas where the individual resided and worked;
(iii)Employment history of the individual;
(iv)Media history of the individual, including an electronic search of national and local publications, wire services, and business applications; and
(v)Financial services-related regulatory history of the individual, including, but not limited to, money transmission, securities, banking, insurance, and mortgage-related industries.
(3)The director may use the Nationwide Mortgage Licensing System and Registry as a channeling agent for requesting information from and distributing information to the United States Department of Justice or any other governmental agency in order to reduce the points of contact which the Federal Bureau of Investigation may have to maintain for purposes of this section.