Sec. 06.60.410. - Censure, suspension, or bar. - Alaska Statutes

(a) In addition to any other remedy provided under this chapter, the department may, by order after appropriate notice and opportunity for a hearing, censure a person, suspend the license of a person for a period not to exceed 12 months, suspend the registration of a small mortgage lender for a period not to exceed 12 months, or bar a person from a position of employment, management, or control of a licensee or a small mortgage lender if the department finds that

(1) the censure, suspension, or bar is in the public interest;

(2) the person has knowingly committed or caused a violation of this chapter or a regulation adopted under this chapter; and

(3) the violation has caused material damage to the licensee, to the small mortgage lender, or to the public.

(b) When a person who is the subject of a proposed order under this section receives a notice of the department's intention to issue an order under this section, the person is immediately prohibited from engaging in any activities for which a license or registration as a small mortgage lender is required under this chapter.

(c) A person who is suspended or barred under this section is prohibited from participating in a business activity of a licensee or a small mortgage lender and from engaging in a business activity on the premises where a licensee or small mortgage lender is conducting the licensee's or small mortgage lender's business. This subsection may not be construed to prohibit a suspended or barred person from having the person's personal transactions processed by a licensee or a small mortgage lender.