6.1-426 - (Repealed effective October 1, 2010) Cease and desist orders. - Virginia Statutes

§ 6.1-426. (Repealed effective October 1, 2010) Cease and desist orders.

If the Commissioner determines that any lender or broker required to belicensed hereunder has violated any provision of this chapter or anyregulation adopted pursuant to thereto, he may, upon twenty-one days' noticein writing, order such person to cease and desist from such practices and tocomply with the provisions of this chapter. The notice shall be sent bycertified mail to the principal place of business of such lender or brokerand shall state the grounds for the contemplated action. Within fourteen daysof mailing the notice, the person or persons named therein may file with theClerk of the Commission a written request for a hearing. If a hearing isrequested, the Commissioner shall not issue a cease and desist order exceptbased upon findings made at such hearing. Such hearing shall be conducted inaccordance with the provisions of Title 12.1. The Commission may enforcecompliance with any such order issued under this section by imposition andcollection of such fines and penalties as may be prescribed by Commissionregulations.

(1987, c. 596.)