A. The Administrator may, after notice and hearing, deny, suspend or revoke any license if it is found that:
- 1. The applicant has been convicted of a felony or crime involving fraud, theft, receiving or possession of stolen property in the five (5) years preceding the submission of the application;
- 2. The licensee has failed to pay any fee or charge properly imposed by the Administrator under the authority of this act;
- 3. The licensee has violated any provision of this act or any regulation or order made pursuant to and within the authority of this act; or
- 4. Any fact or condition exists which, if it had existed or had been known to exist at the time of the original application for a license, clearly would have justified the Administrator in refusing the license.
- B. The hearing for denial, suspension or revocation of a license shall be held upon twenty (20) days' notice in writing, setting forth the time and place thereof and a concise statement of the facts alleged to warrant the hearing. After the hearing, the Administrator shall prepare a written order setting forth the effective date of the order accompanied by findings of fact and a copy shall be delivered to the applicant or licensee. Such order, findings and the evidence considered by the Administrator shall be maintained as a part of the permanent public records of the Administrator.
- C. Any licensee may surrender any license by delivering it to the Administrator with written notice of its surrender. Such surrender shall not affect the civil or criminal liability of the licensee for acts committed prior to the surrender of the license.
- D. No revocation, suspension or surrender of any license shall impair or affect the obligation of any preexisting lawful contract between the licensee and any customer.
Laws 1981, HB 1305, c. 213, § 8, emerg. eff. July 1, 1981.