(a) If any person orassociation is engaging in, or has engaged in, any unsafe or unsound practiceor unfair and discriminatory practice in conducting the association's business,or of any other law, rule, regulation, order or condition imposed in writing bythe Commissioner of Banks, the Commissioner of Banks may issue a notice ofcharges to such person or association. A notice of charges shall specify theacts alleged to sustain a cease and desist order, and state the time and placeat which a hearing shall be held. A hearing before the Commission on thecharges shall be held no earlier than seven days, and no later than 14 daysafter issuance of the notice. The charged institution is entitled to a furtherextension of seven days upon filing a request with the Commissioner of Banks.The Commissioner of Banks may also issue a notice of charges if he hasreasonable grounds to believe that any person or association is about to engagein any unsafe or unsound business practice, or any violation of this Chapter,or any other law, rule, regulation or order. If, by a preponderance of theevidence, it is shown that any person or association is engaged in, or has beenengaged in, or is about to engage in, any unsafe or unsound business practice,or unfair and discriminatory practice or any violation of this Chapter, or anyother law, rule, regulation, or order, a cease and desist order shall beissued. The Commission may issue a temporary cease and desist order to beeffective for 14 days and may be extended once for a period of 14 days.
(b) If any person orState association is engaging in, has engaged in, or is about to engage in anyunsafe or unsound practice in conducting the association's business, or anyviolation of this Chapter or of any other law, rules, regulation, order, orcondition imposed in writing by the Commissioner of Banks, and the Commissionerof Banks has determined that immediate corrective action is required, theCommissioner of Banks may issue a temporary cease and desist order. A temporarycease and desist order shall be effective immediately upon issuance for aperiod of 14 days, and may be extended once for a period of 14 days. Such anorder shall state its duration on its face and the words, "Temporary Ceaseand Desist Order." A hearing before the Commission shall be held withinsuch time as such an order remains effective, at which time a temporary ordermay be dissolved or made permanent. (1981, c. 282, s. 3; 2001‑193, s. 16.)
(a) If any person orassociation is engaging in, or has engaged in, any unsafe or unsound practiceor unfair and discriminatory practice in conducting the association's business,or of any other law, rule, regulation, order or condition imposed in writing bythe Commissioner of Banks, the Commissioner of Banks may issue a notice ofcharges to such person or association. A notice of charges shall specify theacts alleged to sustain a cease and desist order, and state the time and placeat which a hearing shall be held. A hearing before the Commission on thecharges shall be held no earlier than seven days, and no later than 14 daysafter issuance of the notice. The charged institution is entitled to a furtherextension of seven days upon filing a request with the Commissioner of Banks.The Commissioner of Banks may also issue a notice of charges if he hasreasonable grounds to believe that any person or association is about to engagein any unsafe or unsound business practice, or any violation of this Chapter,or any other law, rule, regulation or order. If, by a preponderance of theevidence, it is shown that any person or association is engaged in, or has beenengaged in, or is about to engage in, any unsafe or unsound business practice,or unfair and discriminatory practice or any violation of this Chapter, or anyother law, rule, regulation, or order, a cease and desist order shall beissued. The Commission may issue a temporary cease and desist order to beeffective for 14 days and may be extended once for a period of 14 days.
(b) If any person orState association is engaging in, has engaged in, or is about to engage in anyunsafe or unsound practice in conducting the association's business, or anyviolation of this Chapter or of any other law, rules, regulation, order, orcondition imposed in writing by the Commissioner of Banks, and the Commissionerof Banks has determined that immediate corrective action is required, theCommissioner of Banks may issue a temporary cease and desist order. A temporarycease and desist order shall be effective immediately upon issuance for aperiod of 14 days, and may be extended once for a period of 14 days. Such anorder shall state its duration on its face and the words, "Temporary Ceaseand Desist Order." A hearing before the Commission shall be held withinsuch time as such an order remains effective, at which time a temporary ordermay be dissolved or made permanent. (1981, c. 282, s. 3; 2001‑193, s. 16.)
(a) If any person orassociation is engaging in, or has engaged in, any unsafe or unsound practiceor unfair and discriminatory practice in conducting the association's business,or of any other law, rule, regulation, order or condition imposed in writing bythe Commissioner of Banks, the Commissioner of Banks may issue a notice ofcharges to such person or association. A notice of charges shall specify theacts alleged to sustain a cease and desist order, and state the time and placeat which a hearing shall be held. A hearing before the Commission on thecharges shall be held no earlier than seven days, and no later than 14 daysafter issuance of the notice. The charged institution is entitled to a furtherextension of seven days upon filing a request with the Commissioner of Banks.The Commissioner of Banks may also issue a notice of charges if he hasreasonable grounds to believe that any person or association is about to engagein any unsafe or unsound business practice, or any violation of this Chapter,or any other law, rule, regulation or order. If, by a preponderance of theevidence, it is shown that any person or association is engaged in, or has beenengaged in, or is about to engage in, any unsafe or unsound business practice,or unfair and discriminatory practice or any violation of this Chapter, or anyother law, rule, regulation, or order, a cease and desist order shall beissued. The Commission may issue a temporary cease and desist order to beeffective for 14 days and may be extended once for a period of 14 days.
(b) If any person orState association is engaging in, has engaged in, or is about to engage in anyunsafe or unsound practice in conducting the association's business, or anyviolation of this Chapter or of any other law, rules, regulation, order, orcondition imposed in writing by the Commissioner of Banks, and the Commissionerof Banks has determined that immediate corrective action is required, theCommissioner of Banks may issue a temporary cease and desist order. A temporarycease and desist order shall be effective immediately upon issuance for aperiod of 14 days, and may be extended once for a period of 14 days. Such anorder shall state its duration on its face and the words, "Temporary Ceaseand Desist Order." A hearing before the Commission shall be held withinsuch time as such an order remains effective, at which time a temporary ordermay be dissolved or made permanent. (1981, c. 282, s. 3; 2001‑193, s. 16.)
