Section 54-4-49 - Suspension or revocation of license.
54-4-49. Suspension or revocation of license. The director may suspend or revoke a license for good cause pursuant to chapters 1-26 and 1-26D. If the licensee is the holder of more than one license, the director may suspend or revoke any or all of the licenses. For purposes of this section, good cause includes any of the following:
(1) Violation of any statute, rule, order, or written condition of the commission or any federal statute, rule, or regulation pertaining to consumer credit;
(2) Engaging in harassment or abuse, the making of false or misleading representations, or engaging in unfair practices involving lending activity; or
(3) Performing an act of commission or omission or practice that is a breach of trust or a breach of fiduciary duty.
Source: SL 1998, ch 280, § 14; SL 2005, ch 258, § 6.