§ 533D.13 — Cease and desist order — injunction

Iowa § 533D.13

• Jurisdiction: Iowa
• Title XIII: COMMERCE
• Ch. 533D: DELAYED DEPOSIT SERVICES

Text

1. If the superintendent believes that any person has engaged in or is about to engage
in an act or practice constituting a violation of this chapter or any rule adopted or order
issued by the superintendent, the superintendent may issue and serve on the person a cease
and desist order. Upon entry of a cease and desist order the superintendent shall promptly
notify in writing all persons to whom the order is directed that it has been entered and the
reasons for the order. Any person to whom the order is directed may request in writing a
hearing within fifteen business days after the date of the issuance of the order. Upon receipt
of the written request, the matter shall be set for hearing within fifteen business days of
the receipt by the superintendent, unless the person requesting the hearing consents to a
later date. If a hearing is not requested within fifteen business days and none is ordered
by the superintendent, the order of the superintendent shall automatically become final and
remain in effect until modified or vacated by the superintendent. If a hearing is requested or
ordered, the superintendent, after notice and hearing, shall issue written findings of fact and
conclusions of law and shall affirm, vacate, or modify the order.
2. The superintendent may vacate or modify an order if the superintendent finds that the
conditions which caused its entry have changed or that it is otherwise in the public interest
to do so. Any person aggrieved by a final order of the superintendent may appeal the order
as provided in chapter 17A.
3. Ifitappearsthatapersonhasengagedinorisengaginginanactorpracticeinviolation
of this chapter, the attorney general may initiate an action in the district court to enjoin such
acts or practices and to enforce compliance with this chapter. Upon a showing of a violation
of this chapter, a permanent or temporary injunction, restraining order, or writ of mandamus
shall be granted or a receiver or conservator may be appointed to oversee the person’s assets.
The attorney general shall not be required to post a bond.