North Carolina General Statutes Chapter 105. Taxation § 105-449.76. Cancellation or revocation of license

(a) Reasons.--The Secretary may cancel a license issued under this Article upon the written request of the licensee and the immediate return of the license to the Secretary.  The Secretary may summarily revoke a license issued under this Article when the Secretary finds that the licensee is incurring liability for the tax imposed under this Article after failing to pay a tax when due under this Article.  In addition, the Secretary may revoke the license of a licensee that commits one or more of the acts listed in G.S. 105-449.120 after holding a hearing on whether the license should be revoked.

(b) Procedure.--The Secretary must send a person whose license is summarily revoked a notice of the revocation and must give the person an opportunity to have a hearing on the revocation within 10 days after the revocation.  The Secretary must give a person whose license may be revoked after a hearing at least 10 days' written notice of the date, time, and place of the hearing.  A notice of a summary license revocation and a notice of hearing must be sent by certified mail to the last known address of the licensee.

(c) Release of Bond.--When the Secretary cancels or revokes a license and the licensee has paid all taxes and penalties due under this Article, the Secretary must take one of the following actions concerning a bond or an irrevocable letter of credit filed by the licensee: