45-1033 License; administrative fine; disciplinary actions; failure to renew. - Nebraska Statutes

45-1033. License; administrative fine; disciplinaryactions; failure to renew.(1) The director may, followinga hearing under the Administrative Procedure Act and the rules and regulations adopted and promulgated bythe department under the act, suspend or revoke any license issuedpursuant to the Nebraska Installment Loan Act. The director may also imposean administrative fine on the licensee for each separate violation of theact. The director may take one or more of these actions if the director finds:(a) The licensee has materially violated or demonstrated a continuingpattern of violating the Nebraska Installment Loan Act or rules and regulationsadopted and promulgated under the act, any order issued under the act, orany other state or federal law applicable to the conduct of its business;(b) A fact or condition exists which, if it had existed at the timeof the original application for the license, would have warranted the directorto deny the application;(c) The licensee has violated a voluntary consent or compliance agreementwhich had been entered into with the director;(d) The licensee has knowingly provided or caused to be provided tothe director any false or fraudulent representation of a material fact orany false or fraudulent financial statement or suppressed or withheld fromthe director any information which, if submitted by the licensee, would haveresulted in denial of the license application;(e) The licensee has refused to permit an examination by the directorof the licensee's business, records, and accounts pursuant to subsection (1)of section 45-1017 or refused or failed to comply with subsection (2) of section 45-1017 or failed to make any report required under section 45-1018. Eachday the licensee continues in violation of this subdivision constitutes aseparate violation;(f) The licensee has failed to maintain records as required by the directorfollowing written notice. Each day the licensee continues in violation ofthis subdivision constitutes a separate violation;(g) The licensee knowingly has employed any individual or knowinglyhas maintained a contractual relationship with any individual acting as anagent, if such individual has been convicted of, pleaded guilty to, or wasfound guilty after a plea of nolo contendere to (i) a misdemeanor under anystate or federal law which involves dishonesty or fraud or which involvesany aspect of the mortgage banking business, financial institution business,or installment loan business or (ii) any felony under state or federal law;(h) The licensee has violated the written restrictions or conditionsunder which the license was issued;(i) The licensee, or if the licensee is a business entity, one of theofficers, directors, members, partners, or controlling shareholders, was foundguilty after a plea of nolo contendere to (i) a misdemeanor under any stateor federal law which involves dishonesty or fraud or which involves any aspectof the mortgage banking business, financial institution business, or installmentloan business or (ii) any felony under state or federal law; or(j) The licensee knowinglyhas employed any individual or knowingly has maintained a contractual relationshipwith any individual acting as an agent, if such individual is conducting activitiesrequiring a mortgage loan originator license in this state without first obtainingsuch license.(2) Except as provided in this section,a license shall not be revoked or suspended except after notice and a hearingin accordance with the Administrative Procedure Act and the rules and regulations adopted and promulgated bythe department under the act.(3)(a) If a licensee fails to renew its license as required by subsection(1) of section 45-1013 and does not voluntarily surrender the license pursuantto section 45-1032, the department may issue a notice of expiration of thelicense to the licensee in lieu of revocation proceedings.(b) If a licensee fails to maintain a surety bond as required by section 45-1007, the department may issue a notice of cancellation of the licensein lieu of revocation proceedings.(4) Revocation, suspension, cancellation, or expiration of a licenseshall not impair or affect the obligation of a preexisting lawful contractbetween the licensee and any person, including a borrower.(5) Revocation, suspension, cancellation, or expiration of a licenseshall not affect civil or criminal liability for acts committed before therevocation, suspension, cancellation, or expiration or liability for any fineswhich may be imposed against the licensee or any of its officers, directors,shareholders, partners, or members pursuant to this section or section 45-1069for acts committed before the surrender. SourceLaws 2001, LB 53, § 61; Laws 2003, LB 218, § 16; Laws 2005, LB 533, § 63; Laws 2007, LB124, § 57; Laws 2009, LB328, § 49. Cross ReferencesAdministrative Procedure Act, see section 84-920.