§ 6.1-426. Cease and desist orders
If the Commissioner determines that any lender or broker required to be licensed hereunder has violated any provision of this chapter or any regulation adopted pursuant to thereto, he may, upon twenty-one days' notice in writing, order such person to cease and desist from such practices and to comply with the provisions of this chapter. The notice shall be sent by certified mail to the principal place of business of such lender or broker and shall state the grounds for the contemplated action. Within fourteen days of mailing the notice, the person or persons named therein may file with the Clerk of the Commission a written request for a hearing. If a hearing is requested, the Commissioner shall not issue a cease and desist order except based upon findings made at such hearing. Such hearing shall be conducted in accordance with the provisions of Title 12.1. The Commission may enforce compliance with any such order issued under this section by imposition and collection of such fines and penalties as may be prescribed by Commission regulations.
(1987, c. 596.)
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