Revoking or license that is suspending.
(A) The unit of banking institutions may revoke, suspend, or will not restore a permit of every premium finance business if, after research, it seems to your unit that:
(1) Any permit given towards the company ended up being acquired by fraud;
(2) there was online payday loans Utah residents clearly any misrepresentation into the application for the permit;
(3) The owner associated with the permit has otherwise shown himself, by herself, or it self untrustworthy or incompetent to behave as reasonably limited finance business;
(4) The business has violated parts 1321.71 to 1321.83 regarding the Revised Code.
(B) ahead of the unit revokes, suspends, or will not restore the permit of every premium finance business, it shall share with the applicant notice and an opportunity for a hearing carried out relative to Chapter 119. associated with the Revised Code. In place of revoking or suspending the permit for almost any regarding the reasons enumerated in this area, after notice and the opportunity for the hearing carried out relative to Chapter 119. associated with Revised Code, the unit may matter the business up to a penalty of no more than five hundred bucks for every offense whenever, in its judgment, it discovers that the general public interest wouldn’t be harmed because of the continued operations regarding the business. The quantity of any such penalty shall be compensated by the business through any office regarding the division into the treasurer of state towards the credit associated with the customer finance fund.
(C) The superintendent of banking institutions may investigate alleged violations of parts 1321.71 to 1321.83 associated with Revised Code, or even the guidelines adopted thereunder, or complaints concerning any such breach. The superintendent could make application into the court of common pleas for the purchase enjoining such breach and, upon a showing by the superintendent that the individual has committed, or perhaps is planning to commit, this kind of violation, the court shall give an injunction, restraining purchase, or other relief that is appropriate.
(D) In conducting a study pursuant for this part, the superintendent may compel, by subpoena, witnesses to testify in terms of any matter over that your superintendent has jurisdiction, and may even need the manufacturing or photocopying of any guide, record, or any other document with respect to matter that is such. If somebody does not register any statement or report, give testimony, create any guide, record, or other document as needed by this type of subpoena, allow photocopying of every guide, record, or other document subpoenaed, or obey any kind of order of the 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, as with the situation of disobedience of this requirements of the subpoena given through the court, or perhaps a refusal to testify therein.
(E) If the superintendent determines that a individual is involved with, or perhaps is thought to be involved with, tasks that could represent a breach of parts 1321.71 to 1321.83 for the Revised Code, the superintendent may, after notice and a hearing carried out relative to Chapter 119. associated with the Revised Code, problem a cease and desist purchase. Such an purchase shall be enforceable into the court of typical pleas.
(F) No licensee or any other individual is with in breach of parts 1321.71 to 1321.83 regarding the Revised Code for almost any work taken or omission produced in reliance on a written notice, interpretation, or assessment report through the unit.