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Georgia Code Title 7. Banking and Finance § 7-3-45

Current as of March 28, 2024 | Updated by Findlaw Staff

(a) The department may issue an order requiring a person to cease and desist immediately from unauthorized activities whenever it shall appear to the department that:

(1) Except as provided in paragraphs (2) and (3) of this subsection, a person has violated any law of this state or any rule, regulation, or order of the department. This includes, but is not limited to, a person engaging in any activity that would subject a licensee to suspension or revocation of its license under Code Section 7-3-43, whether or not such person is licensed. Such cease and desist order shall be final 20 days from the date of issuance unless the person to whom it is issued requests a hearing in writing within such 20 day period;

(2) A person without a license is engaging in or has engaged in activities requiring licensure under this chapter. Such cease and desist order shall be final 30 days from the date of issuance without the opportunity for an administrative hearing. If such person obtains a license or submits to the department evidence of licensure or exemption from licensure within the 30 day period, the department shall rescind the order; or

(3) A licensee has received a notice of bond cancellation under Code Section 7-3-21. Such cease and desist order shall be final 20 days from the date of issuance without the opportunity for an administrative hearing. If the required bond is reinstated or replaced and documentation evidencing such is submitted to the department within the 20 day period, the department shall rescind the order. In the event such cease and desist order becomes final, the license shall expire.

(b) Any cease and desist order authorized by this Code section shall be in writing, sent by registered or certified mail or statutory overnight delivery, and addressed to the person's business address or, if the person is an individual, to either the business address or the individual's personal address. Any cease and desist order sent to the person's address that is returned to the department as “refused” or “unclaimed” shall be deemed as received and lawfully served.

(c) Any hearing authorized under paragraph (1) of subsection (a) of this Code section shall be conducted in accordance with Chapter 13 of Title 50, the “Georgia Administrative Procedure Act.”

(d) Judicial review of a final decision of the department issued pursuant to paragraph (1) of subsection (a) of this Code section shall be in accordance with Chapter 13 of Title 50, the “Georgia Administrative Procedure Act,” except that judicial review shall be available solely in the superior court of the county of domicile of the department.

(e) Judicial review of a final decision of the department issued pursuant to paragraph (2) or (3) of subsection (a) of this Code section shall be in accordance with Code Section 7-1-90, except that judicial review shall be available solely in the superior court of the county of domicile of the department.

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Cite this article: FindLaw.com - Georgia Code Title 7. Banking and Finance § 7-3-45 - last updated March 28, 2024 | https://codes.findlaw.com/ga/title-7-banking-and-finance/ga-code-sect-7-3-45/

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