§ 36a-657 — (Formerly Sec. 36-369). Suspension, revocation or refusal to renew license or taking of other action. Enforcement powers of commissioner. Removal from office and from employment or retention. Temporary order to cease business.

Connecticut § 36a-657

• Jurisdiction: Connecticut
• Title 36a: The Banking Law of Connecticut
• Ch. 669: Regulated Activities

Text

(a) The commissioner may suspend, revoke or refuse to renew any license or take any other action, in accordance with the provisions of section 36a-51, for any reason which would be sufficient grounds for the commissioner to deny an application for a license under sections 36a-655 to 36a-665, inclusive, or if the commissioner finds that the licensee or any control person, qualified individual, branch manager, trustee, employee or agent of such licensee has done any of the following: (1) Made any material misstatement in the application; (2) committed any fraud or misappropriated funds; (3) violated any of the provisions of this title or of any regulation or order adopted or issued pursuant thereto pertaining to any person or any other law or regulation applicable to the conduct of such licensee's debt adjustment business; or (4) failed to perform any agreement with a debtor. (b) Whenever it appears to the commissioner that (1) any person has violated, is violating or is about to violate the provisions of sections 36a-655 to 36a-665 , inclusive, or any regulation adopted thereunder; (2) any person is, was or would be the cause of the violation of any such provision or regulation due to an act or omission such person knew or should have known would contribute to such violation; or (3) any licensee or any control person, qualified individual, branch manager, trustee, employee or agent of such licensee has committed any fraud, misappropriated funds or failed to perform any agreement with a debtor, the commissioner may take action against such person or licensee in accordance with sections 36a-50 and 36a-52 . (c) The commissioner may order a licensee to remove any individual conducting business under sections 36a-655 to 36a-665 , inclusive, from office and from employment or retention as an independent contractor in the debt adjuster business in this state in accordance with section 36a-51a . (d) The commissioner may issue a temporary order to cease business under a license if the commissioner determines that such license was issued erroneously. Such temporary order shall be issued in accordance with subsection (j) of section 36a-24b .

Legislative History

(1967, P.A. 882, S. 6; P.A. 79-160, S. 3; P.A. 82-174, S. 11, 14; P.A. 94-122, S. 297, 340; P.A. 02-111, S. 42; P.A. 05-46, S. 13; P.A. 07-91, S. 23; P.A. 18-173, S. 64.) History: P.A. 79-160 rephrased provisions, added in Subdiv. (3) ground of material error if licensee was not at time of application entitled to obtain license and remains unentitled to do so, inserted new Subdiv. (4) and renumbered former Subdivs. (4) and (5) accordingly; P.A. 82-174 replaced the provision that the commissioner may revoke or suspend a license after notice and hearing with provisions concerning the form and manner of the notice and authorizing the commissioner to revoke or suspend a license “after allowing the licensee a reasonable opportunity to be heard”; P.A. 94-122 made technical changes, effective January 1, 1995; Sec. 36-369 transferred to Sec. 36a-657 in 1995; P.A. 02-111 replaced former provisions re denial, revocation or suspension of a license by the commissioner with new provisions re suspension, revocation or refusal to renew license; P.A. 05-46 designated existing provisions as Subsec. (a) and added Subsec. (b) re commissioner's authority to impose civil penalty or issue cease and desist order against person or licensee; P.A. 07-91 amended Subsec. (a) to authorize commissioner to take any other action, in accordance with Sec. 36a-51, effective June 5, 2007; P.A. 18-173 amended Subsec. (a) by replacing “proprietor, director, officer, member, partner, shareholder” with “control person, qualified individual, branch manager”, replacing “provisions of sections 36a-655 to 36a-665, inclusive, or any other law or regulation” with “provisions of this title or of any regulation or order adopted or issued pursuant thereto pertaining to any person or any other law or regulation”, amended Subsec. (b) by designating existing provision re person violating Secs. 36a-655 to 36a-665 as Subdiv. (1), and amending same to add reference to regulation adopted under sections, adding Subdiv. (2) re person is, was or would be cause of violation of provision of section or regulation, designating existing provisions re misappropriation of funds or failure to perform agreement as Subdiv. (3), and amended same by replacing “proprietor, director, officer, member, partner, shareholder” with “control person, qualified individual, branch manager”, added Subsec. (c) re commissioner's authority to order licensee to remove individual from office and from employment or retention as an independent contractor, added Subsec. (d) re commissioner's authority to issue temporary order, and made technical changes.