If it appears to the commissioner that a person has entered into a transaction or
performed an act before complying with the applicable provisions of this chapter or
has obtained the commissioner's approval of or acquiescence in a transaction or act
that is subject to this chapter based on a material fraudulent misrepresentation,
misstatement, or omission, the commissioner, after notice and opportunity for a hearing,
by order may void the transaction or act and return the parties to the position they
would have occupied if the transaction or act had not occurred.
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