5 Del. Admin. Code § 2207-12.0

Current through Reigster Vol. 28, No. 6, December 1, 2024

Section 2207-12.0 - Suspension or Revocation

12.1 The Commissioner may suspend or revoke any exemption upon a finding that:

12.1.1 The exempt person has violated any statute, judicial order, administrative order, rule, regulation or other law of the State of Delaware, any other state or the United States of America;

12.1.2 Any fact or condition exists which if it had existed at the time of the application or renewal for the exemption, would have warranted the Commissioner in refusing to issue the exemption or its renewal;

12.1.3 The exempt person has engaged in unfair or deceptive business activities or practices in connection with extensions of credit to consumers. Unfair or deceptive activities and practices include, but are not limited to, the use of tactics which mislead the consumer, misrepresent the consumer transaction or any part thereof, or otherwise create false expectations on the part of the consumer; or

12.1.4 The exempt person does not meet the qualifications specified in Section 4 of this regulation.

12.2 No exemption shall be suspended or revoked except in accordance with the procedures for suspending or revoking a license that are specified in the Statute and in the Delaware Administrative Procedures Act, 29 Del.C. Ch. 101.

12.3 No suspension or revocation of an exemption shall impair or affect the obligation of any preexisting lawful contract between the exempt person and any other person.

5 Del. Admin. Code § 2207-12.0

18 DE Reg. 159 (8/1/2014) (Final)