1. The superintendent may suspend or revoke a license issued under this chapter after notice and opportunity for hearing if the superintendent finds any of the following conditions to exist:
a. The licensee has failed to pay fees when due.
b. The licensee has failed to maintain the deposit or bond required under this chapter.
c. The licensee has failed to comply with an order, decision or finding of the superintendent made under this chapter.
d. The licensee has violated a provision of this chapter, and the violation is detrimental to the public interest.
e. A fact or condition exists which, had it existed at the time of application for a license, would have disqualified the person from licensure under this chapter.
2. A licensee is entitled to ten days' advance notice of a hearing to be held for the purpose of considering the suspension or revocation of the license, except that the superintendent may immediately suspend a license pending a hearing if the superintendent has reasonable grounds to believe that the public interest would be substantially harmed if the licensee were to continue doing business pending the conclusion of the hearing.
3. A licensee under this chapter may surrender the license by delivering a written notice of surrender to the superintendent.
4. A voluntary or involuntary termination of a license under this section shall not affect civil or criminal liability of the licensee for acts or omissions occurring prior to termination of the license, and shall not exonerate the deposit or bond from any claims arising prior to the effective date of termination. Termination of a license does not entitle the licensee to any refund of fees. The superintendent may withhold release of the deposit of a licensee following termination of a license for a reasonable period of time as necessary to assure satisfaction of outstanding claims.
[C81, § 533B.7]
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