Sec. 348.508. LICENSE SUSPENSION OR REVOCATION. After notice and opportunity for a hearing, the commissioner may suspend or revoke a license if the commissioner finds that:
(1) the license holder failed to pay the license fee, an examination fee, an investigation fee, or another charge imposed by the commissioner;
(2) the license holder, knowingly or without the exercise of due care, violated this chapter or a rule adopted or order issued under this chapter; or
(3) a fact or condition exists that, if it had existed or had been known to exist at the time of the original application for the license, clearly would have justified the commissioner's denial of the application.
Added by Acts 2001, 77th Leg., ch. 1235, Sec. 18, eff. Sept. 1, 2001.
Amended by:
Acts 2019, 86th Leg., R.S., Ch. 767 (H.B. 1442), Sec. 40, eff. September 1, 2019.
Structure Texas Statutes
Title 4 - Regulation of Interest, Loans, and Financed Transactions
Subtitle B - Loans and Financed Transactions
Chapter 348 - Motor Vehicle Installment Sales
Subchapter F. Licensing; Administration of Chapter
Section 348.501. License Required
Section 348.5015. Residential Mortgage Loan Originator License Required
Section 348.502. Application Requirements
Section 348.503. Investigation of Application
Section 348.504. Approval or Denial of Application
Section 348.505. Disposition of Fees on Denial of Application
Section 348.5055. License Term
Section 348.5065. Grounds for Refusal to Renew
Section 348.507. Expiration of License on Failure to Pay Fee
Section 348.508. License Suspension or Revocation
Section 348.509. Reinstatement of Suspended License; Issuance of New License After Revocation
Section 348.510. Surrender of License
Section 348.511. Effect of License Suspension, Revocation, or Surrender
Section 348.512. Transfer or Assignment of License
Section 348.513. Adoption of Rules
Section 348.514. Examination; Access to Records
Section 348.515. General Investigation
Section 348.516. Payment of Examination Costs and Administration Expenses
Section 348.517. License Holder's Records; Document Retention Requirements