536A.18 Disciplinary action.
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.
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.
[C66, 71, 73, 75, 77, 79, 81, §536A.18]
2003 Acts, ch 44, §114; 2008 Acts, ch 1160, §34
Structure Iowa Code
Chapter 536A - INDUSTRIAL LOANS
Section 536A.6 - Administration by superintendent.
Section 536A.7 - Application for license.
Section 536A.8 - Capital stock requirement.
Section 536A.9 - Investigation of application.
Section 536A.10 - Issuance of license.
Section 536A.11 - Denial of license.
Section 536A.12 - Continuing license — annual fee — change of name or location — change of control.
Section 536A.13 - Books and records.
Section 536A.15 - Examination of licensees.
Section 536A.16 - Cease and desist orders.
Section 536A.17 - Injunctions.
Section 536A.18 - Disciplinary action.
Section 536A.19 - Receivership — liquidation.
Section 536A.20 - Real estate loans.
Section 536A.21 - Other business in same office.
Section 536A.22 - Thrift certificates.
Section 536A.23 - Powers of industrial loan companies.
Section 536A.24 - Electronic transactions.
Section 536A.25 - Restrictions.
Section 536A.29 - Enforcement of Iowa consumer credit code.
Section 536A.30 - Nonresident licensees — face-to-face solicitation.
Section 536A.31 - Applicability of Iowa consumer credit code.
Section 536A.32 - Powers and duties of the superintendent — nationwide system.