Revoking or license that is suspending.
(A) The unit of finance institutions may revoke, suspend, or will not restore a permit of any premium finance business if, after investigation, it seems into the unit that:
(1) Any permit given to your business ended up being acquired by fraudulence;
(2) there clearly was any misrepresentation within the application for the permit;
(3) The owner of this license has otherwise shown himself, by by herself, or it self untrustworthy or incompetent to do something as reasonably limited finance company;
(4) The business has violated parts 1321.71 to 1321.83 regarding the Revised Code.
(B) prior to the unit revokes, suspends, or will not restore the permit of every premium finance business, it shall give the applicant notice and an opportunity for a hearing carried out relative to Chapter 119. associated with the Revised Code. In place of revoking or suspending the license for almost any associated with the causes enumerated in this area, after notice and a chance for the hearing carried out according to Chapter 119. associated with Revised Code, the unit may matter the organization up to a penalty of no more than five hundred bucks for every single offense whenever, in its judgment, it discovers that the general public interest wouldn’t be harmed by the continued operations associated with the company. The total amount of any such penalty shall be compensated because of the business through any office associated with the unit to your treasurer of state towards the credit associated with the customer finance investment.
(C) The superintendent of banking institutions may investigate alleged violations of sections 1321.71 to 1321.83 associated with Revised Code, or perhaps the guidelines adopted thereunder, or complaints concerning any such breach. The superintendent could make application i loved this into the court of typical pleas for an purchase enjoining such breach and, upon a showing by the superintendent that the individual has committed, or perhaps is going to commit, this kind of violation, the court shall give an injunction, restraining order, or any other appropriate relief.
(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 your superintendent has jurisdiction, and may even need the manufacturing or photocopying of any guide, record, or other document related to such matter. If somebody does not register any statement or report, give testimony, create any book, record, or any other document as needed by this type of subpoena, allow photocopying of every guide, record, or other document subpoenaed, or obey every other order of the subpoena, the court of common pleas of every county in this state, upon application built to it because of the superintendent, shall compel obedience by accessory procedures for contempt, like in the truth of disobedience of this demands of the subpoena granted from the court, or perhaps a refusal to testify therein.
(E) If the superintendent determines that any particular one is involved with, or perhaps is considered to be involved in, activities which will constitute a breach of parts 1321.71 to 1321.83 associated with the Revised Code, the superintendent may, after notice and a hearing conducted relative to Chapter 119. regarding the Revised Code, problem a cease and desist purchase. This kind of order shall be enforceable within the court of typical pleas.
(F) No licensee or any other individual is with in breach of parts 1321.71 to 1321.83 of this Revised Code for almost any work taken or omission built in reliance for a written notice, interpretation, or assessment report through the unit.