Revoking or license that is suspending.
(A) The division of banking institutions may revoke, suspend, or will not restore a permit of every premium finance business if, after research, it seems towards the unit that:
(1) Any permit released into the business had been acquired by fraudulence;
(2) there was clearly any misrepresentation into the application for the permit;
(3) The owner associated with permit has otherwise shown himself, by by herself, or it self untrustworthy or incompetent to do something as a premium finance company;
(4) The business has violated parts 1321.71 to 1321.83 for the Revised Code.
(B) prior to the unit revokes, suspends, or refuses to restore the license of every premium finance business, it shall give the applicant notice and an opportunity for a hearing carried out relative to Chapter 119. for the Revised Code. The division may subject the company to a penalty of not more than five hundred dollars for each offense when, in its judgment, it finds that the public interest would not be harmed by the continued operations of the company in lieu of revoking or suspending the license for any of the causes enumerated in this section, after notice and an opportunity for a hearing conducted in accordance with Chapter 119. of the Revised Code. The actual quantity of any such penalty shall be paid by the business through any office of this unit towards the treasurer of state to your credit for the customer finance fund.
(C) The superintendent of finance institutions may investigate alleged violations of parts 1321.71 to 1321.83 associated with the Revised Code, or perhaps the guidelines adopted thereunder, or complaints concerning any violation that is such. The superintendent could make application to your court of typical pleas for the purchase enjoining such breach and, upon a showing by the superintendent that a individual has committed, or perhaps is going to commit, this kind of violation, the court shall give an injunction, restraining purchase, or other appropriate relief.
(D) In conducting a study pursuant for this part, the superintendent may compel, by subpoena, witnesses to testify with regards to any matter over that your superintendent has jurisdiction, that can need the manufacturing or photocopying of any guide, record, or any other document with respect to such matter. If somebody does not register any declaration or report, give testimony, create any guide, record, or any other document as needed by this kind of subpoena, allow photocopying of any guide, record, or any other document subpoenaed, or obey any kind of purchase of a subpoena, the court of typical pleas of any county in this state, upon application designed to it because of the superintendent, shall compel obedience by accessory procedures for contempt, like in the truth of disobedience associated with the needs of the subpoena released through the court, or perhaps a refusal to testify therein.
(E) If the superintendent determines that the individual is involved in, or perhaps is thought to be involved in, tasks which will represent a breach of parts 1321.71 to 1321.83 regarding the Revised Code, the superintendent may, after notice and a hearing carried out according to Chapter 119. associated with the Revised Code, problem a cease and desist purchase. This kind of order shall be enforceable within the court of typical pleas.
(F) No licensee or other individual is with in breach of parts 1321.71 to 1321.83 regarding the Revised Code for payday loans AK just about any work taken or omission produced in reliance for a written notice, interpretation, or assessment report through the unit.