Each permit shall conspicuously be kept published rather than company for the licensee and it is maybe perhaps maybe not transferable or assignable.
Revoking or license that is suspending.
(A) The unit of finance institutions may revoke, suspend, or will not restore a permit of every premium finance business if, after research, it seems towards the unit that:
(1) Any permit granted to your business had been acquired by fraudulence;
(2) there is any misrepresentation within the application for the license;
(3) The owner of this permit has otherwise shown himself, by herself, or it self untrustworthy or incompetent to do something as reasonably limited finance business;
(4) The business has violated parts 1321.71 to 1321.83 for the Revised Code.
(B) prior to the unit revokes, suspends, or will not restore the permit of every premium finance business, it shall share with the applicant notice and an opportunity for a hearing carried out relative to Chapter 119. for the 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 total amount of any such penalty shall be compensated by the business through work associated with the unit to your treasurer of state towards the credit associated with customer finance investment.
(C) The superintendent https://personalbadcreditloans.net/payday-loans-ma/ of banking institutions may investigate alleged violations of parts 1321.71 to 1321.83 associated with the Revised Code, or even the guidelines adopted thereunder, or complaints concerning any violation that is such. The superintendent will make application to your court of common pleas for an purchase enjoining such breach and, upon a showing by the superintendent that any particular one has committed, or perhaps is about to commit, this kind of violation, the court shall give an injunction, restraining purchase, or any other relief that is appropriate.
(D) In performing a study pursuant to the area, the superintendent may compel, by subpoena, witnesses to testify with regards to any matter over that your superintendent has jurisdiction, and might need the manufacturing or photocopying of every guide, record, or any other document related to such matter. The court of common pleas of any county in this state, upon application made to it by 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 any particular one is involved with, or perhaps is considered to be involved in, tasks that could represent a breach of sections 1321.71 to 1321.83 associated with the Revised Code, the superintendent may, after notice and a hearing carried out relative to Chapter 119. associated with Revised Code, issue a cease and desist purchase. This kind of purchase shall be enforceable within the court of typical pleas.
(F) No licensee or other individual is with in breach of parts 1321.71 to 1321.83 regarding the Revised Code for just about any work taken or omission manufactured in reliance for a written notice, interpretation, or assessment report through the unit.