Idaho State Statutes - Idaho Attorney Directory

(1) The administrator may
issue to a person licensed to make regulated consumer loans an order to show
cause why his license should not be revoked or suspended for a period not in
excess of six (6) months. The order shall state the place for a hearing and
set a time for the hearing that is no less than ten (10) days from the date of
the order. After the hearing, the administrator shall revoke or suspend the
license if he finds that:
(a) The licensee has repeatedly and willfully violated this act or any
rule or order lawfully made pursuant to this act; or
(b) Facts or conditions exist which would clearly have justified the
administrator in refusing to grant a license had these facts or conditions
been known to exist at the time the application for the license was made.
(2) No revocation or suspension of a license is lawful unless prior to
institution of revocation or suspension proceedings by the administrator,
notice is given to the licensee of the facts or conduct which warrant the
intended action, and the licensee is given an opportunity to show compliance
with all lawful requirements for retention of the license.
(3) If the administrator finds that probable cause for revocation of a
license exists and that enforcement of this act requires immediate suspension
of the license pending investigation, he may, after a hearing upon five (5)
days' written notice, enter an order suspending the license for not more than
thirty (30) days.
(4) Whenever the administrator revokes or suspends a license, he shall
enter an order to that effect and forthwith notify the licensee of the
revocation or suspension. Within five (5) days after the entry of the order,
he shall deliver to the licensee a copy of the order and the findings
supporting the order.
(5) Any person holding a license to make regulated consumer loans may
relinquish the license by notifying the administrator in writing of its
relinquishment, but this relinquishment shall not affect his liability for
acts previously committed.
(6) No revocation, suspension, or relinquishment of a license shall
impair or affect the obligation of any preexisting lawful contract between the
licensee and any debtor.
(7) The administrator may reinstate a license, terminate a suspension, or
grant a new license to a person whose license has been revoked or suspended if
no fact or condition then exists which clearly would have justified the
administrator in refusing to grant a license.

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