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

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

365.040. 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 in the application for license;

(2) Willful failure to comply with any provision of thischapter relating to retail installment contracts;

(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 the retail buyer under this chapter.

2. If a licensee is a partnership, association orcorporation, it shall be sufficient cause for the suspension orrevocation of a license that any officer, director or trustee ofa licensed association or corporation, or any member of alicensed partnership, has so acted or failed to act as would because for suspending or revoking a license to the party as anindividual. Each licensee shall be responsible for the acts ofany or all of his employees while acting as his agent, if thelicensee after actual knowledge of the acts retained thebenefits, proceeds, profits or advantages accruing from the actsor otherwise ratified 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. 466 § 4)