TITLE XXXV BANKS AND BANKING; LOAN ASSOCIATIONS; CREDIT UNIONS
CHAPTER 397-A LICENSING OF NONDEPOSITORY MORTGAGE BANKERS, BROKERS, AND SERVICERS
Section 397-A:19
397-A:19 Cease and Desist. –
I. The commissioner may issue a cease and desist order against any licensee or person who it has reasonable cause to believe is in violation of the provisions of this chapter or any rule or order under this chapter. The order shall give notice of the facts or conduct constituting the basis for the order and shall give notice of the opportunity for a hearing. Delivery of such order shall be by hand or certified mail at the last known address of the principal office of the licensee or other person.
II. A hearing shall be held not later than 10 days after the request for such hearing is received by the commissioner. Within 20 calendar days of submission of the evidence into the record, the commissioner shall issue a further order vacating the cease and desist order or making it permanent as the facts require. All hearings shall comply with RSA 541-A.
III. If the person to whom a cease and desist order is issued fails to request a hearing within 30 calendar days of receipt of such order, then such person shall be deemed in default, and the order shall, on the thirty-first day, become permanent, and shall remain in full force and effect until and unless later modified or vacated by the commissioner, for good cause shown.
IV. If the person to whom a cease and desist order is issued fails to appear at the hearing after being duly notified, such person shall be deemed in default, and the proceeding may be determined against him or her upon consideration of the cease and desist order, the allegations of which may be deemed to be true.
V. Upon an affirmative finding of violation, the commissioner may, in addition to ordering a person to cease and desist the conduct at issue, assess penalties as provided in RSA 397-A:20.