2005 Vermont Code - § 2210. — Revocation, suspension or nonrenewal of license; cease and desist orders

§ 2210. Revocation, suspension or nonrenewal of license; cease and desist orders

(a) The commissioner may suspend, revoke, or refuse to renew a license, or order that a licensee cease and desist in any specified conduct if the commissioner finds that:

(1) The licensee has failed to pay the renewal of license fee, or an examination fee as provided in section 2222 of this title, or to maintain in effect the required liquid assets or the bond or bonds required under the provisions of this chapter, or to comply with any lawful demand, ruling, or requirement of the commissioner; or

(2) The licensee has violated any provisions of this chapter, sections 10403 and 10404 of this title or chapters 4, 59 or 61 of Title 9, where applicable, or any rule or regulation lawfully made thereunder; or

(3) Any cause for which issuance of the license could have been refused had it then existed and been known to the commissioner at the time of issuance, including unconscionable conduct which takes advantage of a borrower's lack of bargaining power or lack of understanding of the terms or consequences of the transaction.

(b) The licensee shall receive 15 days' notice and an opportunity to be heard before such order shall be issued. Mailing notice to the licensee's current address as stated on the license shall be presumptive evidence of its receipt by the licensee. However, if the commissioner finds that the public safety or welfare imperatively requires emergency action, action with no prior notice or prior opportunity to be heard may be taken, pending proceedings for revocation or other action. (Amended 1989, No. 244 (Adj. Sess.), § 4; 1995, No. 162 (Adj. Sess.), § 11, eff. Jan. 1, 1997; 1999, No. 153 (Adj. Sess.), § 13, eff. Jan. 1, 2001.)