South Carolina Code 34-29-80. Revocation, suspension, surrender, and reinstatement of licenses
(1) The licensee has failed to pay the annual license fee.
Terms Used In South Carolina Code 34-29-80
- Answer: The formal written statement by a defendant responding to a civil complaint and setting forth the grounds for defense.
- Board: shall mean the State Board of Bank Control and its duly authorized deputies. See South Carolina Code 34-29-10
- Contract: A legal written agreement that becomes binding when signed.
- Evidence: Information presented in testimony or in documents that is used to persuade the fact finder (judge or jury) to decide the case for one side or the other.
- License: shall mean the privilege certificate issued by the Board under the authority of this chapter to conduct the business regulated by this chapter. See South Carolina Code 34-29-10
- Licensee: shall mean a person to whom one or more licenses have been issued. See South Carolina Code 34-29-10
- Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
- Person: shall mean an individual, partnership, association, corporation and all other legal and commercial entities. See South Carolina Code 34-29-10
- Probable cause: A reasonable ground for belief that the offender violated a specific law.
(2) The licensee has failed to operate the business of lending for a continuous period of sixty days or more, unless the licensee shall have, prior to a finding by the Board that such licensee is inoperative, secured the written approval of the Board to suspend business operations for a reasonable additional period.
(3) The licensee, either knowingly or without the exercise of due care to prevent the same, has violated any provisions of this chapter or any regulation or order lawfully made pursuant to and within the authority of this chapter.
(b) If the Board finds that probable cause for revocation of any license exists and that enforcement of the chapter requires immediate suspension of such license pending investigation, it may, upon ten days’ written notice and a hearing, enter an order prohibiting such licensee from making any loans for a period not exceeding thirty days.
(c) Whenever the Board shall revoke or suspend a license issued pursuant to this chapter, it shall enter an order to that effect and forthwith notify the licensee of the revocation or suspension. Within five days after the entry of such an order it shall place on file its findings of fact and a summary of the evidence supporting them and forthwith deliver a copy to the licensee.
(d) Any licensee may surrender any license by delivering it to the Board with written notice of its surrender, but such surrender shall not affect his civil or criminal liability for acts committed prior thereto.
(e) No revocation, suspension or surrender of any license shall impair or affect the obligation of any preexisting lawful contract between the licensee and any obligor.
(f) The Board may reinstate suspended licenses or issue new licenses to a person whose license or licenses have been revoked, if no fact or condition then exists which clearly would have justified the Board in refusing originally to issue such license under this chapter.