An NC MLO asks whether they can be sponsored by two companies at once. What is the best conclusion under North Carolina MLO law or NCCOB guidance?
Correct Answer
A) NCCOB guidance says an NC MLO may work for only one NC licensed or registered company at a time and sponsorship requires W-2 employee treatment.
NCCOB guidance says an NC MLO may work for only one NC licensed or registered company at a time and sponsorship requires W-2 employee treatment. NCCOB FAQ says a North Carolina MLO may only work for one North Carolina licensed or registered company at a time and should be paid as a W-2 employee.
Why This Is the Correct Answer
NCCOB guidance says an NC MLO may work for only one NC licensed or registered company at a time and sponsorship requires W-2 employee treatment. NCCOB FAQ says a North Carolina MLO may only work for one North Carolina licensed or registered company at a time and should be paid as a W-2 employee.
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