TITLE 26

BANKS AND BANKING

CHAPTER 22

COLLECTION AGENCIES

26-2244.  Cease and desist orders, penalty. (1) Whenever it appears to the director that it is in the public interest, he may order any person to cease and desist from acts, practices, or omissions which constitute a violation of this act or a rule adopted or an order issued under this act.

(2)  Whenever, after notice and the opportunity for a hearing, the director finds that any person has engaged in any act, practice, or omission constituting a violation of any provision of this act or a rule adopted or an order issued under this act, the director may order the person to cease and desist from such acts, practices or omissions and:

(a)  Impose a civil penalty of not more than five thousand dollars ($5,000) for each violation upon any person found to have violated any provision of this act or a rule adopted or an order issued under this act;

(b)  Issue an order restoring to any person in interest any consideration that may have been acquired or transferred in violation of this act or a rule adopted or an order issued under this act; and

(c)  Issue an order that the person violating this act or a rule adopted or an order issued under this act pay costs, which in the discretion of the director may include an amount representing reasonable attorney’s fees and reimbursement for investigative efforts.

History:

[26-2244, added 1970, ch. 53, sec. 23, p. 118; am. 1974, ch. 24, sec. 28, p. 744; am. 1990, ch. 346, sec. 9, p. 936; am. 1993, ch. 165, sec. 7, p. 421; am. 2002, ch. 190, sec. 6, p. 549; am. 2008, ch. 347, sec. 25, p. 955.]