§ 584 — Grounds for suspension or revocation of license; procedure

§ 584. Grounds for suspension or revocation of license; procedure. 1.\nThe superintendent may revoke any license issued hereunder if he shall\nfind that:\n (a) The licensee has violated any provisions of this article, or of\nany rule or regulation made by the superintendent under and within the\nauthority of this article;\n (b) Any fact or condition exists which, if it had existed at the time\nof the original application for such license, would have warranted the\nsuperintendent in refusing originally to issue such license; or\n (c) The conviction of a licensee for a crime against the laws of this\nstate or any other state or of the United States involving moral\nturpitude or fraudulent or dishonest actions, or the entry of a final\njudgement in a court of competent jurisdiction against the licensee in a\ncivil action arising from fraud, misrepresentation, or deceit.\n 2. The superintendent may, on good cause shown, suspend any license\nfor a period not exceeding thirty days, pending investigation.\n 3. No license shall be revoked or suspended except after notice and a\nhearing thereon.\n 4. Any licensee may surrender any license by delivering to the\nsuperintendent written notice that it thereby surrenders such license,\nbut such surrender shall not affect such licensee's civil or criminal\nliability for acts committed prior to such surrender.\n 5. No revocation, suspension or surrender of any license shall impair\nor affect the obligation of any pre-existing lawful contract between the\nlicensee and any person.\n 6. Every license issued hereunder shall remain in force and effect\nuntil the same shall have been surrendered, revoked or suspended in\naccordance with the provisions of this article, but the superintendent\nshall have authority to reinstate a suspended license or to issue a new\nlicense to a licensee whose license shall have been revoked if no fact\nor condition then exists which would have warranted the superintendent\nin refusing originally to issue such license under this article.\n 7. Whenever the superintendent shall revoke or suspend a license\nissued pursuant to this article, he shall forthwith execute in duplicate\na written order to that effect. The superintendent shall file one copy\nof such order in the office of the department of financial services and\nshall forthwith serve the other copy upon the licensee. Any such order\nmay be reviewed in the manner provided by article seventy-eight of the\ncivil practice law and rules. Such application for review as authorized\nby this section must be made within thirty days from the date of such\norder of suspension or revocation.\n