§ 19-14.10-13 - Enforcement authorities, violations and penalties.
SECTION 19-14.10-13
§ 19-14.10-13 Enforcement authorities,violations and penalties. – (a) In order to ensure the effective supervision and enforcement of thischapter the director or the director's designee may, pursuant to chapter 42-35:
(1) Deny, suspend, revoke, condition or decline to renew alicense for a violation of this chapter, rules or regulations issued under thischapter or order or directive entered under this chapter.
(2) Deny, suspend, revoke, condition or decline to renew alicense if an applicant or licensee fails at any time to meet the requirementsof § 19-14.10-6 or 19-14.10-9, or withholds information or makes amaterial misstatement in an application for a license or renewal of a license.
(3) Order restitution against persons subject to this chapterfor violations of this chapter.
(4) Impose fines on persons subject to this chapter pursuantto subsections (b), (c) and (d) of this section.
(5) Issue orders or directives under this chapter as follows:
(i) Order or direct persons subject to this chapter to ceaseand desist from conducting business, including immediate temporary orders tocease and desist.
(ii) Order or direct persons subject to this chapter to ceaseany harmful activities or violations of this chapter, including immediatetemporary orders to cease and desist.
(iii) Enter immediate temporary orders to cease businessunder a license or interim license issued pursuant to the authority grantedunder this chapter if the director or the director's designee determines thatsuch license was erroneously granted or the licensee is currently in violationof this chapter;
(iv) Order or direct such other affirmative action as thedirector or the director's designee deems necessary.
(2) The director or the director's designee may impose acivil penalty on a mortgage loan originator and any lender or loan brokerlicensed under chapter 19-14 or 19-14.1 which employs such mortgage loanoriginator, if the director or the director's designee finds, on the recordafter notice and opportunity for hearing, that such mortgage loan originatorhas violated or failed to comply with any requirement of this chapter or anyregulation prescribed by the director or the director's designee under thischapter or order issued under authority of this chapter. In addition, thedirector or the director's designee may impose a civil penalty on a lender orloan broker licensed under chapter 19-14 or 19-14.1 which employs any mortgageloan originator licensed under this chapter, if the director or the director'sdesignee finds, on the record after notice and opportunity for hearing, thatsuch lender or loan broker has violated or failed to comply with anyrequirement of this chapter or any such regulation or order.
(3) The maximum amount of penalty for each act or omissiondescribed in subsection (b) of this section shall be twenty-five thousand fivehundred dollars ($25,000).
(4) Each violation or failure to comply with any directive ororder of the director or the director's designee is a separate and distinctviolation or failure.