364.040. License denied or suspended, grounds--hearing and review. - Missouri Statutes

License denied or suspended, grounds--hearing and review.

364.040. 1. Renewal of a license originally granted underthis chapter may be denied, or a license may be suspended orrevoked by the director on the following grounds:

(1) Material misstatement of fact in any application forlicense under this chapter;

(2) Willful failure to comply with provisions of thischapter relating to retail time transactions;

(3) Defrauding any retail buyer to the buyer's damage;

(4) Fraudulent misrepresentation, circumvention orconcealment by the licensee through whatever subterfuge or deviceof any of the material particulars or the nature thereof requiredto be stated or furnished to a buyer under the Missouri retailcredit sales law (sections 408.250 to 408.370, RSMo).

2. If a licensee is a firm, association or corporation, itshall be sufficient cause for the suspension or revocation of alicense that any officer, director or trustee of a licensed firm,association or corporation, or any member of a licensedpartnership, has so acted or failed to act as would be cause forsuspending or revoking a license to the party as an individual.Each licensee shall be responsible for the acts of any or all ofhis employees while acting as his agent, if such licensee, afteractual knowledge of the acts, retained the benefits, proceeds,profits or advantages accruing from the acts or otherwiseratified the acts.

3. No license shall be denied, suspended or revoked exceptafter hearing thereon. The hearing and review thereof shall beconducted according to chapter 536, RSMo.

(L. 1963 p. 463 § 4)