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2833
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MARVIN MANDEL, Governor
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so find] COMMISSIONER FINDS THAT THE CONDITIONS AND
PREREQUISITES SET FORTH IN SUBSECTION (E) OF THIS SECTION
HAVE NOT BEEN MET OR DO NOT EXIST, he shall [enter an
order denying such ] DENY THE application and [forthwith]
IMMEDIATELY notify the applicant of the denial[,
returning the license fee]. AT THAT TIME, THE APPLICANT'S
LICENSE FEE SHALL BE REIMBURSED, BUT THE COMMISSIONER
SHALL RETAIN THE INVESTIGATION FEE.
(2) Within [ten] 10 days after the entry of [such]
an order OF DENIAL, [he] THE COMMISSIONER shall file in
his office his WRITTEN findings and a summary of the
evidence[,] supporting then and [shall forthwith] deliver
a copy [thereof] OF THEM to the applicant.
[(d) The provisions of subsection (b) of this
section shall not apply to any license which was in full
force and effect on January 1, 1943, and no such license
shall be revoked nor shall the Administrator of Loan Laws
refuse to reissue any such license upon the sole ground
that the licensee has failed to comply with, or the
license fails to conform to, the requirements of said
subsection.]
5.
[If in the opinion of the Administrator of Loan Laws
the bond shall at any time appear to be insecure or
exhausted, or otherwise doubtful, an additional bond in
the sum of not more than one thousand dollars ($1,000)
satisfactory to the Administrator of Loan Laws shall be
filed and upon failure of the obligor to file such
additional bond, the license shall be revoked by the
Administrator of Loan Laws.]
(A) EACH LICENSE ISSUED UNDER THIS ARTICLE EXPIRES
ON THE LAST DAY OF JUNE OF EACH YEAR AND MAY BE REISSUED
ANNUALLY ON APPLICATION AND PAYMENT OF AN ANNUAL LICENSE
FEE OF $850.
(B) APPLICATION FOR REISSUANCE OF A LICENSE SHALL BE
MADE TO THE COMMISSIONER ON OR BEFORE THE FIRST DAY OF
JUNE OF EACH YEAR, ON THE FORM AND IN THE MANNER
PRESCRIBED BY THE COMMISSIONER.
(C) AS TO A LICENSEE APPLYING FOR REISSUANCE OF A
LICENSE UNDER THIS SECTION, THE COMMISSIONER MAY WAIVE
THE CONDITIONS AND PREREQUISITES SET FORTH IN
§4(B)(1)(II) AND (III) OF THIS ARTICLE.
6.
(A) The Commissioner of Consumer Credit may, [upon]
ON notice to [the] A licensee and reasonable opportunity
to be heard, revoke or suspend [such] ITS license [upon]
ON the finding that the licensee has violated any
provision of this article[,] or THAT the licensee
knowingly has repeatedly violated the provisions of Title
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