1. (1) The commissioner may impose an administrative fine not to exceed one thousand dollars for each separate offense; may issue a letter of admonition; may place a contract seller on probation under the commissioner's close supervision on such terms and for such time as the commissioner deems appropriate; and may refuse to renew, may revoke, or may suspend the license of any contract seller if, after an investigation and after notice and a hearing pursuant to the provision of section 24-4-104, C.R.S., the commissioner determines that the contract seller has:

   1. (a) Failed to comply with or has violated any provision of this article or any regulation or order lawfully made pursuant to and within the authority of this article; or
   2. (b) Used false or misleading advertising or made any false or misleading statement or concealment in the contract seller's application for licensure; or
   3. (c) Employed any device, scheme, or artifice which results in defrauding a contract buyer; or
   4. (d) Disposed of, concealed, diverted, converted, or otherwise failed to account for any funds or assets of any contract buyer which are subject to regulation pursuant to this article; or
   5. (e) Committed any act that constitutes a violation of the Colorado Consumer Protection Act, article 1 of title 6, C.R.S.; or
   6. (f) Been convicted of, or any officer, director, or controlling shareholder has been convicted of, a crime involving fraud or misappropriation or misuse of funds; or
   7. (g) Failed to provide appropriate records requested by the commissioner as part of an investigation of a complaint filed with the commissioner.

Source: L. 95: Entire article R&RE, p. 1043, § 1, effective May 25.

Editor's note: This section is similar to former § 10-15-114 as it existed prior to 1995.