6.1-363.20 - (Repealed effective October 1, 2010) Suspension or revocation of license. - Virginia Statutes

§ 6.1-363.20. (Repealed effective October 1, 2010) Suspension or revocationof license.

A. The Commission may suspend or revoke any license issued under this chapterupon any of the following grounds:

1. Any ground for denial of a license under this chapter;

2. Any violation of the provisions of this chapter or regulations promulgatedby the Commission pursuant thereto, or a violation of any other law orregulation applicable to the conduct of the licensee's business;

3. A course of conduct consisting of the failure to perform writtenagreements with borrowers;

4. Conviction of a felony or misdemeanor involving fraud, misrepresentation,or deceit;

5. Entry of a judgment against the licensee involving fraud,misrepresentation, or deceit;

6. Entry of a federal or state administrative order against such licensee forviolation of any law or any regulation applicable to the conduct of hisbusiness;

7. Refusal to permit an investigation or examination by the Commission;

8. Failure to pay any fee or assessment imposed by this chapter;

9. Failure to comply with any order of the Commission; or

10. Insolvency of the licensee.

B. For the purposes of this section, acts of any officer, director, member,trustee, beneficiary, partner, or principal shall be deemed acts of thelicensee.

(2004, c. 790.)