§ 10-15-114 — Investigations - actions against licensees

(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:

(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

(b) Used false or misleading advertising or made any false or misleading
statement or concealment in the contract seller's application for licensure; or

(c) Employed any device, scheme, or artifice which results in defrauding a
contract buyer; or

(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

(e) Committed any act that constitutes a violation of the Colorado
Consumer Protection Act, article 1 of title 6, C.R.S.; or

(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

(g) Failed to provide appropriate records requested by the commissioner as
part of an investigation of a complaint filed with the commissioner.

Legislative History

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