44-283

44-283. Denial, suspension or revocation of
licenses

A. The administrator may deny a license applied for under this chapter or suspend
or revoke a license issued under this chapter on any of the following grounds:

1. Material misstatement in the application for a license.

2. A violation, either knowingly or without the exercise of due care to prevent the
violation, of this chapter or of any rule or order adopted or issued pursuant to this
chapter.

3. Defrauding any retail buyer to the buyer's damage.

4. Fraudulent misrepresentation, circumvention or concealment by the licensee
through whatever subterfuge or device of any of the material particulars or the nature
thereof required to be stated or furnished to the retail buyer under this article.

5. Conviction in any state of a felony or a misdemeanor involving breach of trust
or dishonesty.

6. Having a judgment or order entered against the licensee or applicant by an
administrative agency of this or any other state or by the federal government in which
one of the bases of the judgment or order is fraud, deceit or misrepresentation, if the
conduct was engaged in directly by the licensee or applicant or was authorized,
solicited, commanded or knowingly permitted by the directors or senior management of the
licensee or applicant.

B. If a licensee is a firm, association or corporation, it is sufficient cause for
the suspension or revocation of a license that any officer, director or trustee of a
licensed firm, association or corporation, or any member of a licensed partnership, has
so acted or failed to act as would be cause for suspending or revoking a license to such
party as an individual. Each licensee is responsible for the acts of any or all of the
licensee's employees while acting as the licensee's agent, if the licensee after actual
knowledge of the acts retained the benefits, proceeds, profits or advantages accruing
from the acts or otherwise ratified the acts.

C. Hearings on the denial, suspension or revocation of a license shall be conducted
pursuant to title 41, chapter 6, article 10. No revocation, suspension or surrender of
any license shall impair or affect the obligation of any lawful retail installment
contract acquired by the licensee before the revocation, suspension or surrender of the
license.