§ 19-14-14. Revocation by default.
(a) The director, or the director’s designee, may revoke any license without a hearing by default if the licensee fails to respond to notifications informing the licensee of a failure to pay the annual license fee; maintain in effect the required bond or bonds; or maintain net worth requirements as required by this title.
(b) For the purposes of revocation by default, the director, or the director’s designee, shall send, in writing, to the licensee and to the licensee’s registered attorney for service of process at their current respective addresses according to the records of the department, notice of the deficiency and potential revocation of the license. Should the licensee, or the licensee’s registered attorney, fail to respond within fifteen (15) days of the notification, the director, or the director’s designee, may revoke the license by default and without hearing. The director, or the director’s designees, shall notify the licensee of such revocation in writing.
(c) Any action taken under this section may be appealed pursuant to the Administrative Procedures Act, chapter 35 of title 42.
History of Section.P.L. 1995, ch. 82, § 52; P.L. 2012, ch. 65, § 2; P.L. 2012, ch. 145, § 2; P.L. 2014, ch. 106, § 3; P.L. 2014, ch. 125, § 3.
Structure Rhode Island General Laws
Title 19 - Financial Institutions
Chapter 19-14 - Licensed Activities
Section 19-14-1. - Definitions.
Section 19-14-2. - Licenses required.
Section 19-14-3. - Application for license.
Section 19-14-4. - Annual fee.
Section 19-14-5. - Minimum capital.
Section 19-14-6. - Bond of applicant.
Section 19-14-7. - Issuance or denial of license.
Section 19-14-8. - Denial of license due to incomplete application.
Section 19-14-9. - Contents of license.
Section 19-14-10. - Agent for service of process.
Section 19-14-11. - Prohibition or transfer or assignment of license.
Section 19-14-12. - Place of business — Branch offices — Name changes.
Section 19-14-13. - Revocation of license.
Section 19-14-14. - Revocation by default.
Section 19-14-15. - Suspension of license.
Section 19-14-16. - Surrender of license.
Section 19-14-17. - Contracts unimpaired by revocation, suspension, or surrender of license.
Section 19-14-18. - Reinstatement of license.
Section 19-14-19. - Filing findings on revocation or suspension.
Section 19-14-20. - Books, accounts, and records.
Section 19-14-21. - Advertising and misrepresentations.
Section 19-14-22. - Reporting requirements.
Section 19-14-23. - Examinations and investigations.
Section 19-14-24. - Tying with other business.
Section 19-14-25. - Transactions and place of business limited by license — Remote locations.
Section 19-14-26. - Penalty for violations.
Section 19-14-26.1. - Additional penalties.
Section 19-14-27. - Modification or repeal of chapter.
Section 19-14-28. - Appeal from director.
Section 19-14-29. - Appropriations — Fees.
Section 19-14-30. - Rules and regulations.
Section 19-14-31. - Pre-existing contracts.
Section 19-14-32. - Severability.
Section 19-14-33. - Compliance with federal law governing licensed activities.