The deputy director may deny, suspend, or revoke a license if specified problems are found with an applicant or licensee.
6-982 - Denial, suspension or revocation of licenses 6-982 . Denial, suspension or revocation of licenses A. The deputy director may deny a license to a person or suspend or revoke a license if the deputy director finds that an applicant or licensee: 1. Is insolvent as defined in section 47-1201. 2. Refuses to allow an examination by the deputy director of the licensee's books and affairs or refuses or fails, within a reasonable time, to furnish any information or make any report that may be required by the deputy director. 3. Has been convicted in any state of a felony or any crime of breach of trust or dishonesty. 4. Has had a final judgment entered against the licensee in a civil action on grounds of fraud, deceit or misrepresentation and the conduct on which the judgment is based indicates that it would be contrary to the interest of the public to allow the person to be licensed or to control or manage a licensee. 5. Has had an order entered against the licensee involving fraud, deceit or misrepresentation by any administrative agency of this state, the federal government or any other state or territory of the United States and the facts relating to the order indicate that it would be contrary to the interest of the public to allow the person to be licensed or to control or manage a licensee. 6. Has violated any applicable law, rule or order. B. If a person to whom a license is issued or who has applied for a license under this article is indicted or informed against for forgery, embezzlement, obtaining money under false pretenses, extortion, criminal conspiracy to defraud or a similar offense or offenses and a certified copy of the indictment or information is filed with the deputy director, the deputy director may suspend the license issued to the licensee or deny a license to an applicant pending trial on the indictment or information. C. If a licensee is other than a natural person, it is sufficient cause to suspend or revoke the license if an officer, director, member, partner, trustee or employee, while acting in the course of the commercial mortgage banker business, or a person entitled to vote more than twenty percent of the outstanding voting shares of the licensed corporation, partnership, association or trust has acted or failed to act in the same manner as would be cause to suspend or revoke a license of the party as an individual. If a licensee is a natural person, it is sufficient cause to suspend or revoke the license if an employee of the person, while acting as an employee, has acted or failed to act in the course of the commercial mortgage banker business of the licensee in the same manner as would be cause to suspend or revoke a license of the party as an owner.