How Missouri Laws 443.881 – Suspension or revocation of license can Save You Time, Stress, and Money.

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The arrangements of area 443. 835 shall not affect a licensee's civil or criminal liability for acts committed prior to such licensee gives up the license. 5. No cancellation, suspension or surrender of any license will impair or affect the commitment of any preexisting legal contract between the licensee and any person.

Every license provided pursuant to sections 443. 701 to 443. 893 will remain in force and impact till the license has ended without renewal, has actually been given up, revoked or suspended in accordance with the arrangements of areas 443. 701 to 443. 893, except that, the director may restore a suspended license or provide a brand-new license to a licensee whose license has been withdrawed if no fact or condition exists which would have warranted the director to refuse initially to release such license pursuant to areas 443.

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893. 7. Whenever the director revokes or suspends a license issued pursuant to sections 443. 701 to 443. 893, the director shall post public notice of such order and will serve a copy of such order upon the licensee. Find More Details On This Page might be evaluated by the board. 8. When the director discovers anybody in infraction of the grounds offered in subsection 9 of this section, the director might enter an order imposing several of the following disciplinary actions: (1) Revocation of the license; (2) Suspension of the license topic to reinstatement upon pleasing all sensible conditions the director might define; (3) Placement of the licensee on probation for a time period and topic to any reasonable conditions as the director may define; (4) Issuance of a reprimand; and (5) Rejection of a license.

893; (12) Engaging in activities managed by areas 443. 701 to 443. 893 without a current, active license unless specifically excused by the provisions of sections 443. 701 to 443. 893; (13) Failure to pay prompt any charge or charge due under the arrangements of areas 443. 701 to 443.

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701 to 443. 893 and the rules of the director; (15) Refusal to permit an investigation or assessment of the licensee's or the licensee's affiliates' books and records or refusal to abide by the director's subpoena or subpoena duces tecum; (16) A pattern of substantially underestimating closing expenses; (17) Failure to abide by, or any violation of, any arrangement of areas 443.

893. 10. A licensee shall go through the disciplinary actions specified in areas 443. 701 to 443. 893 for an infraction of subsection 9 of this area by any officer, director, member, shareholder, joint endeavor, partner, supreme fair owner or worker of the licensee. 11. Such licensee shall be subject to suspension or cancellation for employee actions only if there is a pattern of duplicated offenses by an employee or employees or the licensee understands the infraction.

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The procedures for the surrender, suspension, or revocation of a license will be: (1) The director may, after 10 days' notice by certified mail to the licensee at the address set forth on the license, or when it comes to a mortgage producer, the principal workplace of the property home loan broker utilizing or last utilizing the originator, specifying the contemplated action and, in basic, the grounds for such action and the date, time and place of a hearing on the action, and after offering the licensee with an affordable opportunity to be heard prior to such action, revoke or suspend any license provided pursuant to areas 443.

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