6-1308
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6-1308. Denial, revocation or suspension of registration A. The superintendent may deny, revoke or suspend the registration of an advance fee loan broker if the superintendent finds that: 1. The application for registration, any supplemental statement or any other document filed with the superintendent is incomplete, inaccurate or misleading. 2. The advance fee loan broker is insolvent or is in an unsound financial condition. 3. The advance fee loan broker has violated any provision of this chapter or any rule or order of the superintendent. 4. The advance fee loan broker has refused to permit an examination of the books, records and accounts in connection with transactions involving the receipt and disbursement of funds received by the advance fee loan broker. 5. The advance fee loan broker has failed to pay the original application fee or any supplemental statement fees as required by this chapter. B. It is sufficient cause for denial, revocation or suspension of registration of an advance fee loan broker as provided in this section, if the advance fee loan broker is a partnership, corporation, unincorporated association or trust, that a member of the partnership, an officer or a director of the corporation or unincorporated association or the trustee or other fiduciary of the trust or a person controlling, controlled by or under common control with the broker has been guilty of any act or omission which would be sufficient grounds for denying, revoking or suspending the registration of an individual broker. |