Iowa Administrative Code
Agency 187 - BANKING DIVISION
Chapter 15 - REGULATED LOANS
Rule 187-15.11 - Disciplinary action
Universal Citation: IA Admin Code 187-15.11
Current through Register Vol. 46, No. 19, March 20, 2024
(1) The superintendent has authority pursuant to Iowa Code chapters 536 and 17A to impose discipline for violations of Iowa Code chapter 536 and the rules promulgated thereunder.
(2) Grounds for discipline. The superintendent may impose any of the disciplinary sanctions set out in Iowa Code section 536.9(2) when the superintendent makes any of the findings in Iowa Code section 536.9(1) or when the superintendent finds any of the following:
a. The licensee has abandoned its
place of business for 60 or more days.
b. The licensee fails to fully cooperate with
an examination or investigation, including failing to respond to an inquiry
from the superintendent within 30 days of the date the superintendent mails a
written communication directed to the licensee's last-known address on file
with the superintendent.
c. The
licensee has engaged in any conduct that subverts or attempts to subvert an
examination or investigation by the superintendent.
d. The licensee continues to operate a
regulated loan business without an active and current license.
e. The licensee fails to notify the
superintendent within 10 days of the occurrence of one of the significant
events set forth in rule
187-15.7
(17A,536).
f. The licensee fails
to notify the superintendent of a change in control, name, or principal place
of business.
g. The licensee
operates a regulated loan business in the same location as another business
without the superintendent's written approval.
h. Another state or jurisdiction has denied,
suspended, revoked, or refused to renew the licensee's license, registration,
or authorization to engage in the business of making loans under the other
state's or jurisdiction's law.
i.
The licensee fails to create and maintain complete and accurate records as
required by state or federal law, regulation, or rule.
(3) The superintendent shall not refund the license fee, in whole or in part, of a license that has been suspended, revoked, or surrendered.
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