17:16C-10 - Grounds for refusal to issue, revocation, suspension, refusal to renew license - New Jersey Statutes

17:16C-10.  Grounds for refusal to issue, revocation, suspension, refusal to renew license

10. a.  The commissioner may refuse to issue and may revoke, suspend or refuse to renew a license or impose a penalty pursuant to this act if the commissioner finds, after notice and an opportunity for a hearing in accordance with the "Administrative Procedure Act," P.L.1968, c.410 (C.52:14B-1 et seq.) and any rules adopted thereunder, that any person, applicant for or holder of the license has:

(1)  violated any of the provisions of P.L.1960, c.40 (C.17:16C-1 et seq.) or any order, rule or regulation made or issued pursuant to that act;

(2)  Withheld information or made a material misstatement in the application for the license;

(3)  Been convicted of an offense involving breach of trust, moral turpitude or fraudulent or dishonest dealing, or had a final judgment entered against him in a civil action upon grounds of fraud, misrepresentation or deceit;

(4)  Become insolvent, or failed to attain or maintain the required net worth;

(5)  Demonstrated unworthiness, incompetence, bad faith or dishonesty in the transacting of business as a licensee; or

(6)  Engaged in any other conduct which would be deemed by the commissioner to be the cause for denial of the license.

b.  A license of a corporation, partnership, association or other entity may be suspended or revoked if any officer, director or member of the licensee has committed any act which would be cause for suspending or revoking a license to him as an individual.

c.  No license issued under this act to a motor vehicle installment seller shall be valid unless such seller is the holder of a valid and subsisting license issued pursuant to chapter 10 of Title 39 of the Revised Statutes.

L.1960,c.40,s.10;  amended 1971, c.409, s.3; 1996, c.157, s.53.