Suspension or revocation of license, grounds--procedure, penalties.
443.881. 1. Upon written notice to a licensee, the director maysuspend or revoke any license issued pursuant to sections 443.701 to443.893 if the director makes a finding of one or more of the following inthe notice that:
(1) Through separate acts or an act or a course of conduct, thelicensee has violated any provision of sections 443.701 to 443.893, anyrule promulgated by the director or any other law or rule of this state orthe United States;
(2) Any fact or condition exists which, if it had existed at the timeof the original application for such license would have warranted thedirector in refusing originally to issue such license;
(3) If a licensee is other than an individual, any ultimate equitableowner, officer, director or member of the licensed partnership,association, corporation or other person has so acted or failed to act aswould be cause for suspending or revoking a license to that party as anindividual.
2. No license shall be suspended or revoked, except as provided inthis section, nor shall any licensee be subject to any other disciplinaryproceeding without notice of the licensee's right to a hearing as providedin sections 443.701 to 443.893.
3. The director, on good cause shown that an emergency exists, maysuspend any license for a period not to exceed thirty days, pending aninvestigation.
4. The provisions of section 443.835 shall not affect a licensee'scivil or criminal liability for acts committed before such licenseesurrenders the license.
5. No revocation, suspension or surrender of any license shall impairor affect the obligation of any preexisting lawful contract between thelicensee and any person.
6. Every license issued pursuant to sections 443.701 to 443.893 shallremain in force and effect until the license has expired without renewal,has been surrendered, revoked or suspended in accordance with theprovisions of sections 443.701 to 443.893, except that, the director mayreinstate a suspended license or issue a new license to a licensee whoselicense has been revoked if no fact or condition exists which would havewarranted the director to refuse originally to issue such license pursuantto sections 443.701 to 443.893.
7. Whenever the director revokes or suspends a license issuedpursuant to sections 443.701 to 443.893, the director shall post publicnotice of such order and shall serve a copy of such order upon thelicensee. Such order may be reviewed by the board.
8. When the director finds any person in violation of the groundsprovided in subsection 9 of this section, the director may enter an orderimposing one or more of the following disciplinary actions:
(1) Revocation of the license;
(2) Suspension of the license subject to reinstatement uponsatisfying all reasonable conditions the director may specify;
(3) Placement of the licensee on probation for a period of time andsubject to any reasonable conditions as the director may specify;
(4) Issuance of a reprimand; and
(5) Denial of a license.
9. The following acts shall constitute grounds for which thedisciplinary actions specified in subsection 8 of this section may betaken:
(1) Being convicted or found guilty, regardless of pendency of anappeal, of a crime in any jurisdiction which involves fraud, dishonestdealings, or any other act involving moral turpitude;
(2) Fraud, misrepresentation, deceit or negligence in any mortgagefinancing transaction;
(3) A material or intentional misstatement of fact on an initial orrenewal application;
(4) Failure to follow the director's rules with respect to placementof funds in escrow accounts;
(5) Insolvency or filing under any provision of the United StatesBankruptcy Code as a debtor;
(6) Failure to account or deliver to any person any property upondemand of the person entitled to such accounting and delivery;
(7) Failure to disburse funds in accordance with agreements;
(8) Any misuse, misapplication or misappropriation of trust funds orescrow funds;
(9) Having a license, or the equivalent, to practice any professionor occupation revoked, suspended or otherwise acted against, including thedenial of licensure by a licensing authority of this state or anotherstate, territory or country for fraud, dishonest dealings or any other actinvolving moral turpitude;
(10) Failure to issue a satisfaction of mortgage when the mortgagehas been executed and proceeds were not disbursed to the benefit of themortgagor and when the mortgagor has fully paid the licensee's costs andcommission;
(11) Failure to comply with any order of the director or rule made orissued pursuant to the provisions of sections 443.701 to 443.893;
(12) Engaging in activities regulated by sections 443.701 to 443.893without a current, active license unless specifically exempted by theprovisions of sections 443.701 to 443.893;
(13) Failure to pay timely any fee or charge due under the provisionsof sections 443.701 to 443.893;
(14) Failure to maintain, preserve and keep available forexamination, all books, accounts or other documents required by theprovisions of sections 443.701 to 443.893 and the rules of the director;
(15) Refusal to permit an investigation or examination of thelicensee's or the licensee's affiliates' books and records or refusal tocomply with the director's subpoena or subpoena duces tecum;
(16) A pattern of substantially underestimating closing costs;
(17) Failure to comply with, or any violation of, any provision ofsections 443.701 to 443.893.
10. A licensee shall be subject to the disciplinary actions specifiedin sections 443.701 to 443.893 for a violation of subsection 9 of thissection by any officer, director, member, shareholder, joint venture,partner, ultimate equitable owner or employee of the licensee.
11. Such licensee shall be subject to suspension or revocation foremployee actions only if there is a pattern of repeated violations by anemployee or employees or the licensee has knowledge of the violation.
12. The procedures for the surrender, suspension, or revocation of alicense shall be:
(1) The director may, after ten days' notice by certified mail to thelicensee at the address set forth on the license, or in the case of amortgage loan originator, the principal office of the residential mortgageloan broker employing or last employing the originator, stating thecontemplated action and, in general, the grounds for such action and thedate, time and place of a hearing on the action, and after providing thelicensee with a reasonable opportunity to be heard prior to such action,revoke or suspend any license issued pursuant to sections 443.701 to443.893 if the director finds that:
(a) The licensee has failed to comply with any provision of sections443.701 to 443.893 or any order, decision, finding, rule or direction ofthe director lawfully made pursuant to the authority of sections 443.701 to443.893; or
(b) Any fact or condition exists which, if it had existed at the timeof the original application for the license, clearly would have warrantedthe director to refuse to issue the license;
(2) Any licensee may surrender a license by delivering to thedirector written notice that the licensee thereby surrenders such license,but surrender shall not affect the licensee's civil or criminal liabilityfor acts committed prior to surrender or entitle the licensee to a returnof any part of the license fee.
Suspension or revocation of license, grounds--procedure, penalties.
443.881. 1. Upon written notice to a licensee, the director maysuspend or revoke any license issued pursuant to sections 443.701 to443.893 if the director makes a finding of one or more of the following inthe notice that:
(1) Through separate acts or an act or a course of conduct, thelicensee has violated any provision of sections 443.701 to 443.893, anyrule promulgated by the director or any other law or rule of this state orthe United States;
(2) Any fact or condition exists which, if it had existed at the timeof the original application for such license would have warranted thedirector in refusing originally to issue such license;
(3) If a licensee is other than an individual, any ultimate equitableowner, officer, director or member of the licensed partnership,association, corporation or other person has so acted or failed to act aswould be cause for suspending or revoking a license to that party as anindividual.
2. No license shall be suspended or revoked, except as provided inthis section, nor shall any licensee be subject to any other disciplinaryproceeding without notice of the licensee's right to a hearing as providedin sections 443.701 to 443.893.
3. The director, on good cause shown that an emergency exists, maysuspend any license for a period not to exceed thirty days, pending aninvestigation.
4. The provisions of section 443.835 shall not affect a licensee'scivil or criminal liability for acts committed before such licenseesurrenders the license.
5. No revocation, suspension or surrender of any license shall impairor affect the obligation of any preexisting lawful contract between thelicensee and any person.
6. Every license issued pursuant to sections 443.701 to 443.893 shallremain in force and effect until the license has expired without renewal,has been surrendered, revoked or suspended in accordance with theprovisions of sections 443.701 to 443.893, except that, the director mayreinstate a suspended license or issue a new license to a licensee whoselicense has been revoked if no fact or condition exists which would havewarranted the director to refuse originally to issue such license pursuantto sections 443.701 to 443.893.
7. Whenever the director revokes or suspends a license issuedpursuant to sections 443.701 to 443.893, the director shall post publicnotice of such order and shall serve a copy of such order upon thelicensee. Such order may be reviewed by the board.
8. When the director finds any person in violation of the groundsprovided in subsection 9 of this section, the director may enter an orderimposing one or more of the following disciplinary actions:
(1) Revocation of the license;
(2) Suspension of the license subject to reinstatement uponsatisfying all reasonable conditions the director may specify;
(3) Placement of the licensee on probation for a period of time andsubject to any reasonable conditions as the director may specify;
(4) Issuance of a reprimand; and
(5) Denial of a license.
9. The following acts shall constitute grounds for which thedisciplinary actions specified in subsection 8 of this section may betaken:
(1) Being convicted or found guilty, regardless of pendency of anappeal, of a crime in any jurisdiction which involves fraud, dishonestdealings, or any other act involving moral turpitude;
(2) Fraud, misrepresentation, deceit or negligence in any mortgagefinancing transaction;
(3) A material or intentional misstatement of fact on an initial orrenewal application;
(4) Failure to follow the director's rules with respect to placementof funds in escrow accounts;
(5) Insolvency or filing under any provision of the United StatesBankruptcy Code as a debtor;
(6) Failure to account or deliver to any person any property upondemand of the person entitled to such accounting and delivery;
(7) Failure to disburse funds in accordance with agreements;
(8) Any misuse, misapplication or misappropriation of trust funds orescrow funds;
(9) Having a license, or the equivalent, to practice any professionor occupation revoked, suspended or otherwise acted against, including thedenial of licensure by a licensing authority of this state or anotherstate, territory or country for fraud, dishonest dealings or any other actinvolving moral turpitude;
(10) Failure to issue a satisfaction of mortgage when the mortgagehas been executed and proceeds were not disbursed to the benefit of themortgagor and when the mortgagor has fully paid the licensee's costs andcommission;
(11) Failure to comply with any order of the director or rule made orissued pursuant to the provisions of sections 443.701 to 443.893;
(12) Engaging in activities regulated by sections 443.701 to 443.893without a current, active license unless specifically exempted by theprovisions of sections 443.701 to 443.893;
(13) Failure to pay timely any fee or charge due under the provisionsof sections 443.701 to 443.893;
(14) Failure to maintain, preserve and keep available forexamination, all books, accounts or other documents required by theprovisions of sections 443.701 to 443.893 and the rules of the director;
(15) Refusal to permit an investigation or examination of thelicensee's or the licensee's affiliates' books and records or refusal tocomply with the director's subpoena or subpoena duces tecum;
(16) A pattern of substantially underestimating closing costs;
(17) Failure to comply with, or any violation of, any provision ofsections 443.701 to 443.893.
10. A licensee shall be subject to the disciplinary actions specifiedin sections 443.701 to 443.893 for a violation of subsection 9 of thissection by any officer, director, member, shareholder, joint venture,partner, ultimate equitable owner or employee of the licensee.
11. Such licensee shall be subject to suspension or revocation foremployee actions only if there is a pattern of repeated violations by anemployee or employees or the licensee has knowledge of the violation.
12. The procedures for the surrender, suspension, or revocation of alicense shall be:
(1) The director may, after ten days' notice by certified mail to thelicensee at the address set forth on the license, or in the case of amortgage loan originator, the principal office of the residential mortgageloan broker employing or last employing the originator, stating thecontemplated action and, in general, the grounds for such action and thedate, time and place of a hearing on the action, and after providing thelicensee with a reasonable opportunity to be heard prior to such action,revoke or suspend any license issued pursuant to sections 443.701 to443.893 if the director finds that:
(a) The licensee has failed to comply with any provision of sections443.701 to 443.893 or any order, decision, finding, rule or direction ofthe director lawfully made pursuant to the authority of sections 443.701 to443.893; or
(b) Any fact or condition exists which, if it had existed at the timeof the original application for the license, clearly would have warrantedthe director to refuse to issue the license;
(2) Any licensee may surrender a license by delivering to thedirector written notice that the licensee thereby surrenders such license,but surrender shall not affect the licensee's civil or criminal liabilityfor acts committed prior to surrender or entitle the licensee to a returnof any part of the license fee.
Suspension or revocation of license, grounds--procedure, penalties.
443.881. 1. Upon written notice to a licensee, the director maysuspend or revoke any license issued pursuant to sections 443.701 to443.893 if the director makes a finding of one or more of the following inthe notice that:
(1) Through separate acts or an act or a course of conduct, thelicensee has violated any provision of sections 443.701 to 443.893, anyrule promulgated by the director or any other law or rule of this state orthe United States;
(2) Any fact or condition exists which, if it had existed at the timeof the original application for such license would have warranted thedirector in refusing originally to issue such license;
(3) If a licensee is other than an individual, any ultimate equitableowner, officer, director or member of the licensed partnership,association, corporation or other person has so acted or failed to act aswould be cause for suspending or revoking a license to that party as anindividual.
2. No license shall be suspended or revoked, except as provided inthis section, nor shall any licensee be subject to any other disciplinaryproceeding without notice of the licensee's right to a hearing as providedin sections 443.701 to 443.893.
3. The director, on good cause shown that an emergency exists, maysuspend any license for a period not to exceed thirty days, pending aninvestigation.
4. The provisions of section 443.835 shall not affect a licensee'scivil or criminal liability for acts committed before such licenseesurrenders the license.
5. No revocation, suspension or surrender of any license shall impairor affect the obligation of any preexisting lawful contract between thelicensee and any person.
6. Every license issued pursuant to sections 443.701 to 443.893 shallremain in force and effect until the license has expired without renewal,has been surrendered, revoked or suspended in accordance with theprovisions of sections 443.701 to 443.893, except that, the director mayreinstate a suspended license or issue a new license to a licensee whoselicense has been revoked if no fact or condition exists which would havewarranted the director to refuse originally to issue such license pursuantto sections 443.701 to 443.893.
7. Whenever the director revokes or suspends a license issuedpursuant to sections 443.701 to 443.893, the director shall post publicnotice of such order and shall serve a copy of such order upon thelicensee. Such order may be reviewed by the board.
8. When the director finds any person in violation of the groundsprovided in subsection 9 of this section, the director may enter an orderimposing one or more of the following disciplinary actions:
(1) Revocation of the license;
(2) Suspension of the license subject to reinstatement uponsatisfying all reasonable conditions the director may specify;
(3) Placement of the licensee on probation for a period of time andsubject to any reasonable conditions as the director may specify;
(4) Issuance of a reprimand; and
(5) Denial of a license.
9. The following acts shall constitute grounds for which thedisciplinary actions specified in subsection 8 of this section may betaken:
(1) Being convicted or found guilty, regardless of pendency of anappeal, of a crime in any jurisdiction which involves fraud, dishonestdealings, or any other act involving moral turpitude;
(2) Fraud, misrepresentation, deceit or negligence in any mortgagefinancing transaction;
(3) A material or intentional misstatement of fact on an initial orrenewal application;
(4) Failure to follow the director's rules with respect to placementof funds in escrow accounts;
(5) Insolvency or filing under any provision of the United StatesBankruptcy Code as a debtor;
(6) Failure to account or deliver to any person any property upondemand of the person entitled to such accounting and delivery;
(7) Failure to disburse funds in accordance with agreements;
(8) Any misuse, misapplication or misappropriation of trust funds orescrow funds;
(9) Having a license, or the equivalent, to practice any professionor occupation revoked, suspended or otherwise acted against, including thedenial of licensure by a licensing authority of this state or anotherstate, territory or country for fraud, dishonest dealings or any other actinvolving moral turpitude;
(10) Failure to issue a satisfaction of mortgage when the mortgagehas been executed and proceeds were not disbursed to the benefit of themortgagor and when the mortgagor has fully paid the licensee's costs andcommission;
(11) Failure to comply with any order of the director or rule made orissued pursuant to the provisions of sections 443.701 to 443.893;
(12) Engaging in activities regulated by sections 443.701 to 443.893without a current, active license unless specifically exempted by theprovisions of sections 443.701 to 443.893;
(13) Failure to pay timely any fee or charge due under the provisionsof sections 443.701 to 443.893;
(14) Failure to maintain, preserve and keep available forexamination, all books, accounts or other documents required by theprovisions of sections 443.701 to 443.893 and the rules of the director;
(15) Refusal to permit an investigation or examination of thelicensee's or the licensee's affiliates' books and records or refusal tocomply with the director's subpoena or subpoena duces tecum;
(16) A pattern of substantially underestimating closing costs;
(17) Failure to comply with, or any violation of, any provision ofsections 443.701 to 443.893.
10. A licensee shall be subject to the disciplinary actions specifiedin sections 443.701 to 443.893 for a violation of subsection 9 of thissection by any officer, director, member, shareholder, joint venture,partner, ultimate equitable owner or employee of the licensee.
11. Such licensee shall be subject to suspension or revocation foremployee actions only if there is a pattern of repeated violations by anemployee or employees or the licensee has knowledge of the violation.
12. The procedures for the surrender, suspension, or revocation of alicense shall be:
(1) The director may, after ten days' notice by certified mail to thelicensee at the address set forth on the license, or in the case of amortgage loan originator, the principal office of the residential mortgageloan broker employing or last employing the originator, stating thecontemplated action and, in general, the grounds for such action and thedate, time and place of a hearing on the action, and after providing thelicensee with a reasonable opportunity to be heard prior to such action,revoke or suspend any license issued pursuant to sections 443.701 to443.893 if the director finds that:
(a) The licensee has failed to comply with any provision of sections443.701 to 443.893 or any order, decision, finding, rule or direction ofthe director lawfully made pursuant to the authority of sections 443.701 to443.893; or
(b) Any fact or condition exists which, if it had existed at the timeof the original application for the license, clearly would have warrantedthe director to refuse to issue the license;
(2) Any licensee may surrender a license by delivering to thedirector written notice that the licensee thereby surrenders such license,but surrender shall not affect the licensee's civil or criminal liabilityfor acts committed prior to surrender or entitle the licensee to a returnof any part of the license fee.
