§454F-1.6 Presumption of control. An individual is presumed to control a mortgage loan originator company if that individual is:
(1) An executive officer; or
(2) A director, general partner, or managing member who directly or indirectly has the right to vote ten per cent or more of a class of voting securities or has the power to sell or direct the sale of ten per cent or more of a class of voting securities of that licensee or applicant. [L 2010, c 84, pt of §3; am L 2012, c 252, §4; am L 2013, c 168, §4; am L 2016, c 122, §5; am L 2017, c 150, §2]