(a) The commissioner may, after notice and opportunity for a hearing, suspend or revoke any license, if the commissioner finds that the title pledge lender has knowingly or through lack of due care:
Terms Used In Tennessee Code 45-15-107
Commissioner: means the commissioner of financial institutions or the commissioner's designated representative. See Tennessee Code 45-15-103
Fraud: Intentional deception resulting in injury to another.
Title pledge lender: means any person engaged in the business of making title pledge agreements or property pledge agreements with pledgors. See Tennessee Code 45-15-103
written: includes printing, typewriting, engraving, lithography, and any other mode of representing words and letters. See Tennessee Code 1-3-105
(1) Engaged in conduct of a manner that would warrant the denial of an application;(2) Refused to permit the commissioner to make any examination authorized by this chapter;(3) Failed to pay any fees or assessments imposed by the commissioner under the authority of this chapter;(4) Committed any fraud, engaged in any dishonest activities or made any misrepresentations;(5) Made a false statement in the application for the license or failed to give a true reply to a question in the application;(6) Demonstrated incompetency or untrustworthiness to act as a title pledge lender; or(7) Violated any provisions of this chapter or any administrative regulation issued pursuant to this chapter, or has violated any other law in the course of the title pledge lender’s dealings as a title pledge lender.(b) If the reason for revocation or suspension of a title pledge lender’s license at any one (1) location is of general application to all locations operated by a title pledge lender, the commissioner may revoke or suspend all licenses issued to a title pledge lender.(c) A hearing shall be held on written notice given at least twenty (20) days prior to the date of the hearing, and shall be conducted in accordance with the Uniform Administrative Procedures Act, compiled in title 4, chapter 5.
