§ 13-12-12 — Revocation of license - Suspension of license - Surrender of license

1. The commissioner may issue upon any licensee an order suspending or revoking a
licensee's license if the commissioner finds:
a. The licensee has failed to pay the annual license fee under this chapter or any
examination fee imposed by the commissioner under the authority of this chapter.
b. The licensee, either knowingly or without the exercise of due care to prevent the
same, has violated any provision of this chapter or any regulation or order lawfully
made pursuant to and within the authority of this chapter.
c. Any fact or condition existing at the time of the original application for such
license which clearly would have warranted the department of financial
institutions in refusing originally to issue a license.
d. The licensee has failed to maintain the required bond.
e. The licensee has failed to maintain registration with the secretary of state if so
required.
2. The order must contain a notice of opportunity for hearing pursuant to chapter 28-32.
3. If a hearing is not requested within twenty days of the date the order is served upon
the licensee, the order is final. If a hearing is held and the commissioner finds the
record so warrants, the commissioner may enter a final order. The final order
suspending or revoking the license is final.
4. If the commissioner finds that probable cause for revocation of any license exists and
that enforcement of the chapter requires immediate suspension of the license pending
investigation, it may enter an order suspending the license for a period not exceeding
the time required to serve upon the licensee written notice plus sixty days, pending the
holding of a hearing as prescribed in this chapter.
5. Any licensee may surrender the licensee's license by providing the department of
financial institutions with written notice of its surrender, but a surrender does not affect
the licensee's civil or criminal liability for acts committed before the surrender.