32-11-407. Hearings on orders -- recision and modification. (1) Within 30 days after an order is issued under 32-11-405(3) or 32-11-406, the licensee or subject person of a licensee to whom the order is directed may file with the department an application for a hearing on the order.
(2) After the hearing, the department shall affirm, modify, or rescind the order.
(3) A person to whom an order is issued under this section may apply to the department to modify or rescind the order. The department may not modify or rescind the order unless the department determines that it is in the public interest to do so and that it is reasonable to believe that the person will comply with this chapter.
(4) The right of a licensee or subject person to whom an order is issued under 32-11-405(3) or 32-11-406 to an interlocutory review of the order is not affected by the failure of the licensee or subject person to apply to the department for a hearing on the order issued under this section.
History: En. Sec. 46, Ch. 411, L. 2007.
Structure Montana Code Annotated
Title 32. Financial Institutions
Chapter 11. Business and Industrial Development Corporations
Part 4. Investigations and Penalties
32-11-401. Investigations -- powers -- failure to comply or testify
32-11-402. Injunction -- appointment of receiver
32-11-403. Cease and desist orders
32-11-404. Penalties -- license suspension and revocation -- restitution
32-11-405. Removal and suspension orders for certain acts
32-11-406. Removal and suspension orders in cases of indictment or conviction
32-11-407. Hearings on orders -- recision and modification
32-11-408. through 32-11-410 reserved
32-11-411. Disclosure to shareholders
32-11-412. Orders restricting additional financing assistance