6.2-1419 - (Effective October 1, 2010) Cease and desist orders. - Virginia Statutes

§ 6.2-1419. (Effective October 1, 2010) Cease and desist orders.

If the Commission determines that any association has violated any provisionof this chapter or any regulation adopted pursuant thereto, the Commissionmay, upon 21 days' notice in writing, order the association to cease anddesist from such practices and to comply with the provisions of this chapter.The notice shall be sent by certified mail to the principal place of businessof the association and shall state the grounds for the contemplated action.Within 14 days of mailing the notice, the association may file with the clerkof the Commission a written request for a hearing. If a hearing is sorequested, the Commission shall not issue a cease and desist order prior tosuch hearing. The Commission may enforce compliance with any such order byimposition and collection of such fines and penalties as may be prescribed byCommission regulations, or by revocation of the association's authority to dobusiness in accordance with §§ 6.2-1418 and 6.2-1420.

(1993, c. 419, § 6.1-237.9; 2010, c. 794.)