1. The superintendent may, after notice and hearing pursuant to chapter 17A, take disciplinary action against a licensee if the superintendent finds any of the following:

 a. That the licensee has failed to pay the annual license fee required by this chapter or to maintain in effect the bond or bonds required under this chapter.
 b. That the licensee has violated any of the provisions of this chapter or a rule adopted under this chapter or any other state or federal law, rule, or regulation applicable to the conduct of its business.
 c. That the licensee has refused to submit to the examination required by this chapter.
 d. That the licensee has neglected or refused for a period of more than thirty days to pay a final judgment rendered against it in the courts of this state.
 e. That the licensee has become insolvent.
 f. A fact or condition exists which would have warranted the superintendent to refuse to originally issue the license.
 g. The licensee has violated an order of the superintendent.

Terms Used In Iowa Code 536A.18

  • following: when used by way of reference to a chapter or other part of a statute mean the next preceding or next following chapter or other part. See Iowa Code 4.1
  • License: shall mean a permit or authorization issued or required under the provisions of this chapter to make loans in accordance with this chapter at a single location or place of business. See Iowa Code 536A.2
  • Licensee: means a person licensed under this chapter. See Iowa Code 536A.2
  • Probation: A sentencing alternative to imprisonment in which the court releases convicted defendants under supervision as long as certain conditions are observed.
  • Restitution: The court-ordered payment of money by the defendant to the victim for damages caused by the criminal action.
  • Rule: includes "regulation". See Iowa Code 4.1
  • state: when applied to the different parts of the United States, includes the District of Columbia and the territories, and the words "United States" may include the said district and territories. See Iowa Code 4.1
  • Superintendent: means the superintendent of banking within the banking division of the department of commerce. See Iowa Code 536A.2
 2. The superintendent may impose one or more of the following disciplinary actions against a licensee:

 a. Revoke a license.
 b. Suspend a license until further order of the superintendent or for a specified period of time.
 c. Impose a period of probation under specified conditions.
 d. Impose civil penalties in an amount not to exceed five thousand dollars for each violation.
 e. Issue a citation and warning respecting licensee behavior.
 f. Order the licensee to pay restitution.
 3. The superintendent may order an emergency suspension of a licensee’s license pursuant to section 17A.18A. A written order containing the facts or conduct which warrants the emergency action shall be timely sent to the licensee by restricted certified mail. Upon issuance of the suspension order, the licensee must also be notified of the right to an evidentiary hearing. A suspension proceeding shall be promptly instituted and determined.
 4. Except as provided in this section, a license shall not be revoked or suspended except after notice and a hearing thereon in accordance with chapter 17A.
 5. A licensee may surrender a license by delivering to the superintendent written notice of surrender, but a surrender does not affect the licensee’s civil or criminal liability for acts committed before the surrender.
 6. A suspension, revocation, relinquishment, or expiration of a license shall not invalidate, impair, or affect the legality of obligations of any preexisting contracts, or prevent the enforcement or collection thereof.
 7. Judicial review of the actions of the superintendent may be sought in accordance with the terms of the Iowa administrative procedure Act, chapter 17A.
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