6.1-374.2 - (Repealed effective October 1, 2010) Cease and desist orders.
§ 6.1-374.2. (Repealed effective October 1, 2010) Cease and desist orders.
A. If the Commission determines that (i) any person has violated anyprovision of this chapter or any regulation adopted hereunder or (ii) alicensee is engaging in one or more unsafe or unsound practices, theCommission may, upon 21 days' notice in writing, order such person to ceaseand desist from such practices and to comply with the provisions of thischapter. The notice shall be sent by certified mail to the principal place ofbusiness of such person or other address authorized under § 12.1-19.1 andshall state the grounds for the contemplated action. Within 14 days ofmailing the notice, the person or persons named therein may file with theClerk of the Commission a written request for a hearing. The Commission mayenforce compliance with any such order issued under this section byimposition and collection of such fines and penalties as may be prescribed bylaw.
B. When, in the opinion of the Commission, immediate action is required toprotect the public interest, a cease and desist order may be issuedimmediately without prior hearing. In such cases, the Commission shall make ahearing available to the person on an expedited basis.
C. If required to conserve the assets of a licensee or protect the publicinterest, the Commission may order a licensee and its authorized delegates tocease and desist from selling additional money orders or receiving additionalfunds for transmission.
D. The Commission shall have jurisdiction to enter and enforce a cease anddesist order against any person, regardless of whether such person is presentin the Commonwealth, who directly or indirectly (i) sells money orders tocitizens of the Commonwealth or (ii) obtains money or control over suchcitizens' funds for transmission.
(2009, c. 346.)