Section 734.26 - Revocation or suspension of license or registration(a) Revocation or suspension of license or registration for committing crime.--Where, during the term of any license or registration issued by the board, the licensee or registrant is convicted in a court of competent jurisdiction in this or any other state of forgery, embezzlement, obtaining money under false pretenses, extortion, criminal conspiracy to defraud or other like offense and a duly certified or exemplified copy of the record in the proceeding is filed with the board, the board shall revoke or suspend the license issued to the licensee or registration issued to the registrant.(b) Suspension of license or registration pending trial of crime.--In the event any licensee or registrant is indicted in this or any other state of forgery, embezzlement, obtaining money under false pretenses, extortion, criminal conspiracy to defraud or other offense or offenses and a certified copy of the indictment is filed with the board or other proper evidence is given to it, the board may, in its discretion, suspend the license issued to the licensee or registration issued to the registrant pending trial of the charges.(c)Revocation of licenseor registrationof legally recognizedentity for violation by member or officer.--In the event of the revocation or suspension of the license or registration issued to any member of a partnership or to any officer of an association , corporation, limited liability company or other entity, the license or registration issued to the legally recognized entity shall be revoked by the board unless, within a time fixed by the board, the connection of the member of the partnership is severed and his interest in the partnership and his share in its activities brought to an end or the officer of the association , corporation, limited liability company or other entity is discharged and has no further participation in its activities.Amended by P.L. TBD 2016 No. 88, § 17, eff. 9/18/2016.1983, Dec. 22, P.L. 327, No. 85, § 26, effective 1/1/1984. Amended 2008, Oct. 8, P.L. 1080, No. 89, §6, effective in 60 days [ 12/8/2008].