Code of Alabama - Title 5: Banks and Financial Institutions - Section 5-19A-13 - Suspension or revocation of license; notice and hearing; surrender of license
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Section 5-19A-13 - Suspension or revocation of license; notice and hearing; surrender of license.
(a) The supervisor may, after notice and hearing, suspend or revoke any license upon a finding that:
(1) The licensee, either knowingly or without the exercise of due care to prevent the same, has violated this chapter.
(2) A fact or condition exists which, if it had existed or had been known to exist at the time of the original application for a license, would have justified the supervisor in refusing a license.
(3) The licensee has aided, abetted, or conspired with an individual or person to circumvent or violate the requirements of this chapter.
(4) The licensee or a legal or beneficial owner of the license has been convicted of a crime that the supervisor finds directly relates to the duties and responsibilities of the occupation of pawnbroker.
(b) The supervisor may conditionally license or place on probation a person whose license has been suspended or may reprimand a licensee for a violation of this chapter.
(c) The manner of giving notice and conducting a hearing, as required by subsection (a), shall be as required by Sections 41-22-12 and 41-22-13.
(d) Any licensee may surrender a license by delivering it to the supervisor with written notice of its surrender. Notwithstanding the foregoing, this surrender shall not affect the civil or criminal liability of the licensee for acts committed prior to surrendering of the license.
(e) No revocation, suspension, or surrender of a license shall impair or affect the obligation of any pre-existing lawful contract between the licensee and any pledgor. Any pawn transaction made without benefit of license is void.
(f) The supervisor may reinstate suspended licenses or issue new licenses to a person whose license or licenses have been revoked if no fact or condition then exists which would have justified the supervisor in refusing originally to issue a license under this chapter.
(Acts 1992, No. 92-597, p. 1227, §13.)Sections: Previous 5-19A-6 5-19A-7 5-19A-8 5-19A-9 5-19A-10 5-19A-11 5-19A-12 5-19A-13 5-19A-14 5-19A-15 5-19A-16 5-19A-17 5-19A-18 5-19A-19 5-19A-20 Next
Last modified: February 19, 2012