TITLE 69

WAREHOUSES

CHAPTER 5

COMMODITY DEALER LAW

69-519.  License denial. (1) Any person against whose commodity dealer bond a claim has been ordered collected or has actually been collected shall not be licensed by the department for a period of three (3) years from the date of such order or collection. License denial may be waived if the person can show to the satisfaction of the director that full settlement of all claims against the bond has been made. A change in a person’s business name shall not absolve any unsettled claim against that person’s prior bond.

(2)  The director shall, after a public hearing, have the right to deny or refuse to issue a license or renewal thereof to an applicant when it is determined that public interest is best served by that denial or refusal.

(3)  Upon refusal or denial of a license pursuant to subsection (2) of this section, an applicant may reapply for a license or renewal after a period of ninety (90) days at which time a new hearing will be held to review the application.

(4)  The applicant shall have the right of appeal on any decision to refuse or deny a license under subsection (2) of this section to a court of competent jurisdiction.

History:

[69-519, added 1982, ch. 94, sec. 2, p. 184; am. 1983, ch. 116, sec. 11, p. 256.]