2013 Vermont Statutes
Title 08 Banking and Insurance
Chapter 79 MONEY SERVICES
§ 2547 Orders to cease and desist

2547. Orders to cease and desist

(a) If the commissioner determines that a violation of this chapter or of a rule adopted or an order issued under this chapter by any person is likely to cause immediate and irreparable harm to a licensee, its customers, or the public as a result of the violation, or cause insolvency or significant dissipation of assets of any person, the commissioner may issue an order requiring such person to cease and desist from the violation. The order becomes effective upon service of it upon such person.

(b) The commissioner may issue an order against any person to cease and desist from providing money services through an authorized delegate that is the subject of a separate order by the commissioner.

(c) An order to cease and desist remains effective and enforceable pending the completion of an administrative proceeding pursuant to this subchapter.

(d) Any person that is served with an order to cease and desist may petition the superior court of Washington County for a judicial order setting aside, limiting, or suspending the enforcement, operation, or effectiveness of the order pending the completion of an administrative proceeding pursuant to this subchapter.

(e) The commissioner shall commence an administrative proceeding pursuant to this subchapter within 10 days after issuing an order to cease and desist. (Added 2001, No. 55, 1, eff. Jan. 1, 2002.)