Revoking or suspending permit.

(A) The unit of finance institutions may revoke, suspend, or will not restore a permit of any premium finance business if, after research, it seems towards the division that:

(1) Any permit given towards the company ended up being acquired by fraudulence;

(2) there is any misrepresentation when you look at the application for the permit;

(3) The owner associated with permit has otherwise shown himself, by herself, or it self untrustworthy or incompetent to behave as a premium finance business;

(4) The business has violated sections 1321.71 to 1321.83 for the Revised Code.

(B) ahead of the unit revokes, suspends, or will not restore the permit of any premium finance business, it shall share with the applicant notice and an opportunity for a hearing carried out relative to Chapter 119. associated with Revised Code. The division may subject the company to a penalty of not more than five hundred dollars for each offense when, in its judgment, it finds that the public interest would not be harmed by the continued operations of the company in lieu of revoking or suspending the license for any of the causes enumerated in this section, after notice and an opportunity for a hearing conducted in accordance with Chapter 119. of the Revised Code. The actual quantity of any such penalty shall be compensated because of the business through work for the unit to your treasurer of state to your credit associated with the customer finance investment.

(C) The superintendent of finance institutions may investigate alleged violations of sections 1321.71 to 1321.83 regarding the Revised Code, or the rules adopted thereunder, or complaints concerning any such breach. The superintendent could make application to your court of typical pleas for an purchase enjoining such breach and, upon a showing by the superintendent that the individual has committed, or is planning to commit, this type of violation, the court shall grant an injunction, restraining order, or other appropriate relief.

(D) In performing an investigation pursuant for this area, the superintendent may compel, by subpoena, witnesses to testify pertaining to any matter over that your superintendent has jurisdiction, and could need the manufacturing or photocopying of any guide, record, or other document related to matter that is such. The court of common pleas of any county in this state, upon application made to it by https://badcreditloans4all.com/payday-loans-wa/ the superintendent, shall compel obedience by attachment proceedings for contempt, as in the case of disobedience of the requirements of a subpoena issued from the court, or a refusal to testify therein if a person fails to file any statement or report, give testimony, produce any book, record, or other document as required by such a subpoena, permit photocopying of any book, record, or other document subpoenaed, or obey any other order of a subpoena.

(E) If the superintendent determines that the individual is involved with, or perhaps is considered to be involved with, tasks which could represent a breach of parts 1321.71 to 1321.83 for the Revised Code, the superintendent may, after notice and a hearing carried out relative to Chapter 119. for the Revised Code, problem a cease and desist purchase. This kind of purchase shall be enforceable into the court of typical pleas.

(F) No licensee or other person is with in breach of parts 1321.71 to 1321.83 regarding the Revised Code for almost any work taken or omission built in reliance on a written notice, interpretation, or assessment report through the unit.