6.1-363.21 - (Repealed effective October 1, 2010) Cease and desist orders. - Virginia Statutes

§ 6.1-363.21. (Repealed effective October 1, 2010) Cease and desist orders.

A. If the Commission determines that any person has violated any provision ofthis chapter or any regulation adopted hereunder, the Commission may, upon 21days notice in writing, order such person to cease and desist from suchpractices and to comply with the provisions of this chapter. The notice shallbe sent by certified mail to the principal place of business of such personor other address authorized under § 12.1-19.1 and shall state the grounds forthe contemplated action. Within 14 days of mailing the notice, the person orpersons named therein may file with the Clerk of the Commission a writtenrequest for a hearing. If a hearing is requested, the Commission shall notissue a cease and desist order except based upon findings made at suchhearing. Such hearing shall be conducted in accordance with the Commission'sRules of Practice and Procedure. The Commission may enforce compliance withany order issued under this section by imposition and collection of suchfines and penalties as may be prescribed by law.

B. When, in the opinion of the Commission, immediate action is required toprotect the public interest, a cease and desist order may be issued withoutprior hearing. In such cases, the Commission shall make a hearing availableto the person on an expedited basis.

C. The Commission shall have jurisdiction to enter and enforce a cease anddesist order against any person, regardless of whether such person is presentin the Commonwealth, who obtains money or funds from a resident of theCommonwealth for transmission to such resident's creditors.

(2004, c. 790.)