§ 38.2-4704. Suspension, revocation or failure to renew license; imposition of penalty
The Commission may suspend, revoke or refuse to renew a license of any insurance premium finance company whenever it finds that:
1. The licensee has (i) failed to pay the annual license fee, (ii) violated or failed to comply with any of the provisions of this chapter or with any rule or regulation made by the Commission pursuant to this chapter, or (iii) violated or failed to comply with any order, demand, ruling, provision or requirement of the Commission lawfully made pursuant to or within the authority of this chapter; or
2. The licensee no longer meets the standards required for the initial issuance of a license.
(1964, c. 147, § 38.1-739; 1986, c. 562.)Sections: Previous 38.2-4700 38.2-4701 38.2-4702 38.2-4703 38.2-4704 38.2-4705 38.2-4706 38.2-4707 38.2-4708 38.2-4709 38.2-4710 38.2-4711 38.2-4712 Next
Last modified: April 3, 2009