(2)(a) A licensee shall surrender a license under which no material loan activity has occurred for a period of 12 consecutive months.
(b) For purposes of this subsection, "material loan activity" includes a new loan, a loan that refinances an existing loan or a formal extension of existing loan repayment provisions for more than 30 days.
(3) A licensee’s surrendering a license under subsection (1) or (2) of this section does not affect the licensee’s civil or criminal liability for acts the licensee committed before surrendering the license. [2010 c.23 §12]