§ 11-110-1107 — Unlicensed persons

(1) If the banking board has reason to
believe that a person has violated or is violating section 11-110-501, the board may
issue an order to show cause why an order to cease and desist should not be issued
requiring that the person cease and desist from the violation of section 11-110-501.

(2) In an emergency, the banking board may petition the appropriate court
for the issuance of a temporary restraining order ex parte pursuant to the rules of
civil procedure.

(3) An order to cease and desist becomes effective upon service of the order
upon the person.

(4) An order to cease and desist remains effective and enforceable pending
the completion of an administrative proceeding pursuant to state administrative
procedures.

(5) A person that is served with an order to cease and desist for violating
section 11-110-501 may petition the appropriate court for a judicial order setting
aside, limiting, or suspending the enforcement, operation, or effectiveness of the
order pending the completion of an administrative proceeding pursuant to state
administrative procedures.

Legislative History

Source: L. 2025: Entire article R&RE, (HB 25-1201), ch. 91, p. 412, � 1, effective August 6.