West Virginia Code 31-17-13 – Notice of refusal, or suspension or revocation, of license; relinquishing license
(a) Whenever the commissioner refuses to issue a license, or suspends or revokes a license, he shall make and enter an order to that effect and shall cause a copy of the order to be served in person or by certified mail, return receipt requested, or in any other manner in which process in a civil action in this state may be served, on the applicant or licensee, as the case may be. The commissioner shall also submit a copy of any such order for publication by the Nationwide Mortgage Licensing System and Registry.
Terms Used In West Virginia Code 31-17-13
- Applicant: means a person who has applied for a lender or broker license. See West Virginia Code 31-17-1
- Commissioner: means the Commissioner of Financial Institutions of this state. See West Virginia Code 31-17-1
- Licensee: means any person duly licensed by the commissioner under the provisions of this article or article seventeen-a of this chapter as a lender, broker or mortgage loan originator. See West Virginia Code 31-17-1
- Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
- Person: means an individual, partnership, association, trust, corporation or any other legal entity, or any combination thereof. See West Virginia Code 31-17-1
- State: when applied to a part of the United States and not restricted by the context, includes the District of Columbia and the several territories, and the words "United States" also include the said district and territories. See West Virginia Code 2-2-10
(b) It shall be the duty of the licensee to comply with any such order: (i) Immediately if the license was suspended either following a hearing or for failure to keep the bond required by the provisions of section four of this article in full force and effect; or otherwise (ii) following expiration of the period provided in section fourteen of this article in which such licensee, if not previously provided the opportunity to a hearing on the matter, may demand a hearing before the commissioner without such demand having been timely made.