SB 809 — AN ACT EXEMPTING CERTAIN PERSONS FROM LICENSURE AS A LEAD GENERATOR.

(C) Any operating subsidiary where each owner of such operating LCOsubsidiary No.is wholly owned by the same such bank or credit union;

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809 subsidiary(D) isAny whollyperson ownedlicensed byas thea samemortgage suchlender, bankmortgage correspondent lender or creditmortgage union;broker in this state, provided such exemption shall not be effective during any period in which the license of such person is suspended;

(D) Any person licensed as a mortgage lender, mortgage correspondent lender or mortgage broker in this state, provided such exemption shall not be effective during any period in which the license of such person is suspended;

[.] and (G) An individual employed by an affiliate of a bank or credit union exempt from licensure pursuant to subparagraph (A) of this subdivision,subdivision who is registered or licensed with a state or federal regulator to engage in securities brokerage, investment advisory or insurance sales activities and who, incidental to the performance of such regulated activities, performs lead generation activities by referring one or more leads to such bank or credit union.

Section 1 October 1, 2019 36a-486(b)(5) BA Joint Favorable LCO No.3822 {\\PRDFS1\SCOUSERS\FORZANOF\WS\2019SB-00809-2 of 2 R01-SB.docx }

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809 Statement of Purpose:

To exempt certain persons from licensure as a lead generator.

[Proposed deletions are enclosed in brackets.

Proposed additions are indicated by underline, except that when the entire text of a bill or resolution or a section of a bill or resolution is new, it is not underlined.] LCO No.

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