§ 6.1-425.1. Suspension
A. The Commission, after providing notice and an opportunity for a hearing, may censure, suspend for a defined period or bar a person from any position of employment, management or control of any licensee or registrant, if the Commission finds that:
1. The censure, suspension or bar is in the public interest and that the person has committed or caused a violation of this chapter or any rule, regulation or order of the Commissioner; or
2. The person has been (i) convicted of or pled guilty to or pled nolo contendere to any crime; or (ii) held liable in any civil action by final judgment, or any administrative judgment by any public agency, if the criminal, civil or administrative judgment involved any offense reasonably related to the qualifications, functions or duties of a person engaged in the business in accordance with the provisions of this chapter.
B. Persons suspended or barred under this section are prohibited from participating in any business activity of a registrant and from engaging in any business activity on the premises where a registrant is conducting its business. This subsection shall not be construed to prohibit suspended or barred persons from having their personal transactions processed by a registrant.
C. This section shall apply to any violation, conviction, plea, or judgment after July 1, 2003.
(2003, c. 386.)
Sections: Previous 6.1-422 6.1-422.1 6.1-423 6.1-423.1 6.1-423.2 6.1-424 6.1-425 6.1-425.1 6.1-425.2 6.1-426 6.1-427 6.1-428 6.1-429 6.1-430 6.1-431 NextLast modified: April 2, 2009