Revoking or suspending permit.
(A) The unit of banking institutions may revoke, suspend, or will not restore a permit of every premium finance online payday loans direct lenders Arizona business if, after research, it seems into the unit that:
(1) Any license released to your company ended up being acquired by fraudulence;
(2) there clearly was any misrepresentation when you look at the application for the permit;
(3) The owner associated with the permit has otherwise shown himself, by by by herself, or it self untrustworthy or incompetent to behave as reasonably limited finance business;
(4) The business has violated parts 1321.71 to 1321.83 regarding the Revised Code.
(B) ahead of the unit revokes, suspends, or will not restore the permit of every premium finance business, it shall share with the notice that is applicant an opportunity for a hearing carried out according to Chapter 119. associated with Revised Code. The division may subject the company to a penalty of not more than five hundred dollars for each offense when, in its judgment, it finds that the public interest would not be harmed by the continued operations of the company in lieu of revoking or suspending the license for any of the causes enumerated in this section, after notice and an opportunity for a hearing conducted in accordance with Chapter 119. of the Revised Code. The quantity of any penalty that is such be compensated by the business through any office associated with the unit towards the treasurer of state to your credit regarding the customer finance investment.
(C) The superintendent of finance institutions may investigate alleged violations of parts 1321.71 to 1321.83 regarding the Revised Code, or even the guidelines adopted thereunder, or complaints concerning any violation that is such. The superintendent could make application towards the court of typical pleas for the purchase enjoining such breach and, upon a showing by the superintendent that the individual has committed, or perhaps is planning to commit, this kind of violation, the court shall give an injunction, restraining purchase, or any other relief that is appropriate.
(D) In performing a study pursuant for this area, the superintendent may compel, by subpoena, witnesses to testify in terms of any matter over that the superintendent has jurisdiction, and will need the manufacturing or photocopying of every guide, record, or other document regarding matter that is such. If somebody does not file any statement or report, give testimony, create any guide, record, or other document as needed by this type of subpoena, allow photocopying of any guide, record, or other document subpoenaed, or obey any kind of purchase of the subpoena, the court of typical pleas of every county in this state, upon application meant to it because of the superintendent, shall compel obedience by accessory procedures for contempt, like in the truth of disobedience associated with the needs of a subpoena given through the court, or perhaps a refusal to testify therein.
(E) If the superintendent determines that any particular one is involved in, or perhaps is thought to be involved with, tasks which could represent a breach of parts 1321.71 to 1321.83 for the Revised Code, the superintendent may, after notice and a hearing conducted according to Chapter 119. for the Revised Code, problem a cease and desist purchase. This kind of purchase shall be enforceable into the court of typical pleas.
(F) No licensee or other person is with in breach of parts 1321.71 to 1321.83 regarding the Revised Code for just about any work taken or omission produced in reliance on a written notice, interpretation, or assessment report through the unit.