76-1726 Commission; notice of suspension; conditions; cease and desist order; revocation order. - Nebraska Statutes

76-1726. Commission; notice of suspension; conditions; cease and desist order; revocation order.(1) The commission, after notice and hearing, may issue a notice of suspension if any of the following conditions exist:(a) Any representation in any document or information filed with the commission is false or misleading;(b) Any developer or agent of the developer has engaged or is engaging in any unlawful act or practice;(c) Any developer or agent of the developer has disseminated or caused to be disseminated orally or in writing any false or misleading promotional materials in connection with a time-share program;(d) Any developer or agent of the developer has concealed, diverted, or disposed of any funds or assets of any person in a manner impairing rights of purchasers of time-share intervals in the time-share program;(e) Any developer or agent of the developer has failed to perform any stipulation or agreement made to induce the commission to issue an order relating to the time-share program; or(f) Any developer or agent of the developer has otherwise violated any provision of the Nebraska Time-Share Act or the commission's rules and regulations or orders.(2) The commission may issue a cease and desist order if the developer has not registered the time-share program as required by the act.(3) The commission, after notice and hearing, may issue an order revoking the registration of a time-share program upon determination that a developer or agent of the developer has failed to comply with a notice of suspension issued by the commission affecting the time-share program. SourceLaws 1980, LB 945, § 26; Laws 2001, LB 68, § 13.