(a) Suspension of license.- Except as provided in subsection (b) of this section, if the Commission pays a claim against the Fund based on an act or omission of a contractor, the Commission may suspend the contractor license until the contractor reimburses the Fund in full for:
(1) the amount paid from the Fund; and
(2) interest on that amount at an annual rate of at least 10%, as set by the Commission.
(b) Exception.- The Commission may not suspend the contractor license if the Commission finds that the contractor or management personnel of the contractor:
(1) did not know of the wrongful conduct; or
(2) could not prevent the violation.
(c) Effect of reimbursement of Fund.- Reimbursement of the Fund in full by a contractor, by itself, does not nullify or modify the effect of a disciplinary proceeding against a licensee.
(a) Suspension of license.- Except as provided in subsection (b) of this section, if the Commission pays a claim against the Fund based on an act or omission of a contractor, the Commission may suspend the contractor license until the contractor reimburses the Fund in full for:
(1) the amount paid from the Fund; and
(2) interest on that amount at an annual rate of at least 10%, as set by the Commission.
(b) Exception.- The Commission may not suspend the contractor license if the Commission finds that the contractor or management personnel of the contractor:
(1) did not know of the wrongful conduct; or
(2) could not prevent the violation.
(c) Effect of reimbursement of Fund.- Reimbursement of the Fund in full by a contractor, by itself, does not nullify or modify the effect of a disciplinary proceeding against a licensee.
(a) Suspension of license.- Except as provided in subsection (b) of this section, if the Commission pays a claim against the Fund based on an act or omission of a contractor, the Commission may suspend the contractor license until the contractor reimburses the Fund in full for:
(1) the amount paid from the Fund; and
(2) interest on that amount at an annual rate of at least 10%, as set by the Commission.
(b) Exception.- The Commission may not suspend the contractor license if the Commission finds that the contractor or management personnel of the contractor:
(1) did not know of the wrongful conduct; or
(2) could not prevent the violation.
(c) Effect of reimbursement of Fund.- Reimbursement of the Fund in full by a contractor, by itself, does not nullify or modify the effect of a disciplinary proceeding against a licensee.
