§ 6.1-427. Notice of proposed suspension or revocation
The Commission may not revoke or suspend the license of any lender or broker licensed under this chapter upon any of the grounds set forth in § 6.1-425 until it has given the lender or broker twenty-one days' notice in writing of the reasons for the proposed revocation or suspension and has given the lender or broker an opportunity to introduce evidence and be heard. The notice shall be sent by certified mail to the principal place of business of such lender or broker and shall state with particularity 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 Commission shall not suspend or revoke the license except based upon findings made at such hearing. The hearing shall be conducted in accordance with the provisions of Title 12.1.
(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 16, 2009