Tennessee Code Title 47. Commercial Instruments and Transactions § 47-18-5807

Current as of January 02, 2024 | Updated by Findlaw Staff

(a) The commissioner may suspend, revoke, or deny renewal of a license if:

(1) A licensee has violated this part or any rule adopted pursuant to this part, or another law applicable to the conduct of the licensee's business;

(2) A fact or condition exists that, if it had existed when the licensee applied for a license, would have warranted the commissioner refusing to issue the license;

(3) The licensee does not satisfy the criteria required under § 47-18-5805(b);

(4) The licensee has refused to permit the commissioner to examine the licensee's books and records, failed to comply with § 47-18-5812, or made a material misrepresentation or omission in complying with § 47-18-5812; or

(5) The licensee has not responded within a reasonable time and in an appropriate manner to the commissioner's communications.

(b) If the commissioner suspends, revokes, or denies renewal of a license, then the commissioner may require the licensee to make available the licensee's books and records with respect to any consumers in this state that are being or have been serviced by the licensee.

(c) Except as provided in § 47-18-5808, a licensee must receive notice and a hearing before the commissioner revokes or suspends a license.

(d) A licensee may deliver a written notice to the commissioner to surrender the licensee's license. However, if a licensee surrenders the licensee's license, the licensee's civil or criminal liability for acts committed before the surrender is not affected.

(e) Upon a licensee's submission of an application for license renewal and until such time as an application for license renewal is approved or denied, the licensee may continue to provide or offer to provide debt resolution services, but a suspension or denial of a license terminates any right to provide or offer to provide debt resolution services in this state unless continuation is approved by the commissioner.

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Cite this article: FindLaw.com - Tennessee Code Title 47. Commercial Instruments and Transactions § 47-18-5807 - last updated January 02, 2024 | https://codes.findlaw.com/tn/title-47-commercial-instruments-and-transactions/tn-code-sect-47-18-5807/

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