2014 Vermont Statutes
Title 8 - Banking and Insurance
Chapter 85 - LOAN SERVICERS
§ 2905 Review of denial of application

§ 2905. Review of denial of application

(a) If the application is denied, the applicant may request that the Commissioner reconsider the application by making such request in writing, within 15 days of the denial, responding specifically to the Commissioner's stated reason or reasons for denial. The Commissioner shall then reconsider the application in light of the response stated in the request for reconsideration. Within 60 days of filing the request, upon findings as set forth in section 2904 of this title, the Commissioner shall issue the license.

(b) If the Commissioner is unable to make findings as set forth in section 2904 of this chapter, the Commissioner shall not issue a license. Within 60 days of filing of the request for reconsideration, the Commissioner shall notify the applicant of the denial, and return to the applicant the bond and the sum paid by the applicant as a license fee, retaining the investigation fee to cover the costs of investigating the application. The applicant may request review by the Superior Court in Washington County upon action brought in the usual form by an aggrieved party within 15 days after written notice of the denial of the request for reconsideration. (Added 2009, No. 96 (Adj. Sess.), § 1, eff. Jan. 1, 2011.)