California Business and Professions Code

§ 10166.16

BPC § 10166.16 Effective Jan 1, 2023Div. 4 · Part 1 · Ch. 3 · Art. 2.1

Statute text

(a)Except as otherwise provided in Section 1512 of the SAFE Act, the requirements under any federal or state law regarding the privacy or confidentiality of any information or material provided to the Nationwide Multistate Licensing System and Registry, and any privilege arising under federal or state law, including the rules of any federal or state court, with respect to that information or material, shall continue to apply to the information or material after the information or material has been disclosed to the Nationwide Multistate Licensing System and Registry. The information and material may be shared with all state and federal regulatory officials with mortgage industry oversight authority without the loss of privilege or the loss of confidentiality protections provided by federal or state law.

(b)For these purposes, the commissioner is authorized to enter agreements or sharing arrangements with other governmental agencies, the Conference of State Bank Supervisors, the American Association of Residential Mortgage Regulators, or other associations representing governmental agencies as established by rule, regulation or order of the commissioner.

(c)Information or material that is subject to a privilege or confidentiality under subdivision (a) shall not be subject to either of the following:

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Legislative history

Amended by Stats. 2022, Ch. 511, Sec. 66. (SB 1495) Effective January 1, 2023.