4 N.C. Admin. Code 3K.0702

Current through Register Vol. 39, No. 12, December 1, 2024

Section 03K .0702 - ENFORCEMENT ACTIONS

The grounds upon which the Commissioner may revoke the authorization of a lender to engage in reverse mortgage loans includes the following:

(1) The making of any false statement in an application for authorization;

(2) The making of any false statement on any form or document requested by the Commissioner;

(3) One or more violations of G.S. 53, Article 21 or rules of this Subchapter;

(4) The conviction of any crime that would have a bearing upon the fitness or ability of the authorized lender to conduct its business; or

(5) The commission of any action that involves dishonesty, fraud, or misrepresentation.

04 N.C. Admin. Code 03K .0702

Authority G.S. 53-259; 53-270; 53-271;
Eff. January 1, 1995;
Readopted Eff. August 1, 2018.

Authority G.S. 53-259; 53-270; 53-271(a)(c);
Eff. January 1, 1995.

Amended by North Carolina Register Volume 33, Issue 05, September 1, 2018 effective 8/1/2018.