This text of Iowa § 533D.12 (Disciplinary action) is published on Counsel Stack Legal Research, covering Iowa primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.
1.The superintendent may, after notice and hearing pursuant to chapter 17A, take
disciplinary action against a licensee if the superintendent finds any of the following:
a.The licensee or any of its officers, directors, shareholders, partners, or members has
violated this chapter, any rule adopted by the superintendent, or any other state or federal
law applicable to the conduct of its business.
b.The licensee has failed to pay a license fee required under this chapter or to maintain
in effect the bond or bonds required under this chapter.
c.A fact or condition existing which, if it had existed at the time of the original application
for the license, would have resulted in the denial of issuance of a license.
d.The licensee has abandoned its place of business for a period of sixty day
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1. The superintendent may, after notice and hearing pursuant to chapter 17A, take
disciplinary action against a licensee if the superintendent finds any of the following:
a. The licensee or any of its officers, directors, shareholders, partners, or members has
violated this chapter, any rule adopted by the superintendent, or any other state or federal
law applicable to the conduct of its business.
b. The licensee has failed to pay a license fee required under this chapter or to maintain
in effect the bond or bonds required under this chapter.
c. A fact or condition existing which, if it had existed at the time of the original application
for the license, would have resulted in the denial of issuance of a license.
d. The licensee has abandoned its place of business for a period of sixty days or more.
e. Thelicenseefailstopayanadministrativepenaltyorthecostofinvestigationasordered
by the superintendent.
f. The licensee has violated an order of the superintendent.
2. The superintendent may impose one or more of the following disciplinary actions
against a licensee:
a. Revoke a license.
b. Suspend a license until further order of the superintendent or for a specified period of
time.
c. Impose a period of probation under specified conditions.
d. Impose civil penalties in an amount not to exceed five thousand dollars for each
violation.
§533D.12, DELAYED DEPOSIT SERVICES 6
e. Issue a citation and warning respecting licensee behavior.
f. Order the licensee to pay restitution.
3. The superintendent may order an emergency suspension of a licensee’s license
pursuant to section 17A.18A. A written order containing the facts or conduct which warrants
the emergency action shall be timely sent to the licensee by restricted certified mail. Upon
issuance of the suspension order, the licensee must also be notified of the right to an
evidentiary hearing. A suspension proceeding shall be promptly instituted and determined.
4. Except as provided in this section, a license shall not be revoked or suspended except
after notice and a hearing thereon in accordance with chapter 17A.
5. A licensee may surrender a license by delivering to the superintendent written notice
of surrender, but a surrender does not affect the licensee’s civil or criminal liability for acts
committed before the surrender.
6. A revocation, suspension, or surrender of a license does not impair or affect the
obligation of a preexisting lawful contract between the licensee and any person, including a
debtor.