§ 6.1-425.1. (Repealed effective October 1, 2010) Suspension.
A. The Commission, after providing notice and an opportunity for a hearing,may censure, suspend for a defined period or bar a person from any positionof employment, management or control of any licensee or registrant, if theCommission finds that:
1. The censure, suspension or bar is in the public interest and that theperson has committed or caused a violation of this chapter or any rule,regulation or order of the Commissioner; or
2. The person has been (i) convicted of or pled guilty to or pled nolocontendere to any crime; or (ii) held liable in any civil action by finaljudgment, or any administrative judgment by any public agency, if thecriminal, civil or administrative judgment involved any offense reasonablyrelated to the qualifications, functions or duties of a person engaged in thebusiness in accordance with the provisions of this chapter.
B. Persons suspended or barred under this section are prohibited fromparticipating in any business activity of a registrant and from engaging inany business activity on the premises where a registrant is conducting itsbusiness. This subsection shall not be construed to prohibit suspended orbarred persons from having their personal transactions processed by aregistrant.
C. This section shall apply to any violation, conviction, plea, or judgmentafter July 1, 2003.
§ 6.1-425.1. (Repealed effective October 1, 2010) Suspension.
A. The Commission, after providing notice and an opportunity for a hearing,may censure, suspend for a defined period or bar a person from any positionof employment, management or control of any licensee or registrant, if theCommission finds that:
1. The censure, suspension or bar is in the public interest and that theperson has committed or caused a violation of this chapter or any rule,regulation or order of the Commissioner; or
2. The person has been (i) convicted of or pled guilty to or pled nolocontendere to any crime; or (ii) held liable in any civil action by finaljudgment, or any administrative judgment by any public agency, if thecriminal, civil or administrative judgment involved any offense reasonablyrelated to the qualifications, functions or duties of a person engaged in thebusiness in accordance with the provisions of this chapter.
B. Persons suspended or barred under this section are prohibited fromparticipating in any business activity of a registrant and from engaging inany business activity on the premises where a registrant is conducting itsbusiness. This subsection shall not be construed to prohibit suspended orbarred persons from having their personal transactions processed by aregistrant.
C. This section shall apply to any violation, conviction, plea, or judgmentafter July 1, 2003.
§ 6.1-425.1. (Repealed effective October 1, 2010) Suspension.
A. The Commission, after providing notice and an opportunity for a hearing,may censure, suspend for a defined period or bar a person from any positionof employment, management or control of any licensee or registrant, if theCommission finds that:
1. The censure, suspension or bar is in the public interest and that theperson has committed or caused a violation of this chapter or any rule,regulation or order of the Commissioner; or
2. The person has been (i) convicted of or pled guilty to or pled nolocontendere to any crime; or (ii) held liable in any civil action by finaljudgment, or any administrative judgment by any public agency, if thecriminal, civil or administrative judgment involved any offense reasonablyrelated to the qualifications, functions or duties of a person engaged in thebusiness in accordance with the provisions of this chapter.
B. Persons suspended or barred under this section are prohibited fromparticipating in any business activity of a registrant and from engaging inany business activity on the premises where a registrant is conducting itsbusiness. This subsection shall not be construed to prohibit suspended orbarred persons from having their personal transactions processed by aregistrant.
C. This section shall apply to any violation, conviction, plea, or judgmentafter July 1, 2003.
