38.2-4704 - Suspension, revocation or failure to renew license; imposition of penalty. - Virginia Statutes

§ 38.2-4704. Suspension, revocation or failure to renew license; impositionof penalty.

The Commission may suspend, revoke or refuse to renew a license of anyinsurance premium finance company whenever it finds that:

1. The licensee has (i) failed to pay the annual license fee, (ii) violatedor failed to comply with any of the provisions of this chapter or with anyrule or regulation made by the Commission pursuant to this chapter, or (iii)violated or failed to comply with any order, demand, ruling, provision orrequirement of the Commission lawfully made pursuant to or within theauthority of this chapter; or

2. The licensee no longer meets the standards required for the initialissuance of a license.

(1964, c. 147, § 38.1-739; 1986, c. 562.)