A Georgia licensee asks in 2026 what counts as a physical place of business in the state. What is the rule definition of a physical place of business?
Correct Answer
A) An enclosed room or building where mortgage business is conducted
A physical place of business in Georgia means an enclosed room or building where the licensee alone, if it has no employees, or otherwise one or more supervised employees, conducts a residential mortgage business. Other choices: listing an address does not make it a place of business; a leased commercial suite is one form among several; and no headcount of 3 is part of the definition. Source: Ga. Comp. R. & Regs. 80-11-1-.03(3)
Why This Is the Correct Answer
A physical place of business in Georgia means an enclosed room or building where the licensee alone, if it has no employees, or otherwise one or more supervised employees, conducts a residential mortgage business. Other choices: listing an address does not make it a place of business; a leased commercial suite is one form among several; and no headcount of 3 is part of the definition. Source: Ga. Comp. R. & Regs. 80-11-1-.03(3)
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