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North Dakota Century Code Title 13. Debtor and Creditor Relationship § 13-04.1-08. Revocation of license--Suspension of license--Surrender of license

Current as of January 01, 2024 | Updated by Findlaw Staff

1. The commissioner may issue upon any licensee an order suspending or revoking a licensee's license if the commissioner finds that:

a. The licensee has failed to pay the annual license fee under this chapter or any examination fee imposed by the commissioner under the authority of this chapter.

b. The licensee, either knowingly or without the exercise of due care to prevent the same, has violated any provision of this chapter or any regulation or order lawfully made pursuant to and within the authority of this chapter.

c. Any fact or condition existing at the time of the original application for such license which clearly would have warranted the department of financial institutions in refusing originally to issue such license.

d. The licensee has failed to maintain the required bond.

e. The licensee has failed to maintain registration with the secretary of state if so required.

2. The order must contain a notice of opportunity for hearing pursuant to chapter 28-32.

3. If no hearing is requested within twenty days of the date the order is served upon the licensee the order is final. If a hearing is held and the commissioner finds that the record so warrants, the commissioner may enter a final order. The final order shall be final suspending or revoking the license.

4. If the commissioner finds that probable cause for revocation of any license exists and that enforcement of the chapter requires immediate suspension of such license pending investigation, it may, enter an order suspending such license for a period not exceeding the time required to serve upon the licensee written notice plus sixty days, pending the holding of a hearing as prescribed in this chapter.

5. Any licensee may surrender the licensee's license by providing the department of financial institutions with written notice of its surrender, but such surrender does not affect the licensee's civil or criminal liability for acts committed prior thereto.

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Cite this article: FindLaw.com - North Dakota Century Code Title 13. Debtor and Creditor Relationship § 13-04.1-08. Revocation of license--Suspension of license--Surrender of license - last updated January 01, 2024 | https://codes.findlaw.com/nd/title-13-debtor-and-creditor-relationship/nd-cent-code-sect-13-04-1-08/

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