2005 Vermont Code - § 2212. — Surrender of license, no effect on liability; reinstatement

§ 2212. Surrender of license, no effect on liability; reinstatement

(a) Any licensee may surrender any license by delivering to the commissioner the license and notice that the licensee thereby surrenders such license.

(b) Surrender shall not affect the licensee's civil or criminal liability for acts committed prior to surrender. No revocation, suspension, refusal to renew or surrender of any license shall impair or affect the obligation of any preexisting lawful contract between the licensee and any borrower.

(c) The commissioner shall have authority to reinstate revoked, suspended or nonrenewed licenses or to issue new licenses to a licensee whose license or licenses shall have been revoked, suspended or nonrenewed if no fact or condition then exists which clearly would have warranted the commissioner in refusing originally to issue such license under this chapter. (Amended 1995, No. 162 (Adj. Sess.), § 13, eff. Jan. 1, 1997.)