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MOTOR VEHICLE SALES FINANCE ACT (EXCERPT)
Act 27 of 1950 (Ex. Sess.)
492.109 License; revocation or suspension; grounds; appeal.
(a) The administrator, upon 30 days written notice to the licensee, forwarded by registered mail to the place of business of such licensee, as shown in the application for license or as amended on the license certificate in case of change of address subsequent to issuance of the license certificate, may revoke or suspend any license if he finds that:
1. The licensee has made any material misstatement in the application for license, or that
2. The licensee has violated any provisions of this act, or that
3. The licensee refuses or has refused to permit the administrator or his designated representative to make examinations authorized by this act, or that
4. The licensee in the case of a sales finance company has failed to maintain in effect the bond required under the provisions of this act, or that
5. The licensee has failed to maintain satisfactory records required by this act, or that
6. The licensee has falsified any records required by this act to be maintained in connection with the business contemplated by this act, or that
7. The licensee has after proper notice failed to file any report with the administrator within the time stipulated in this act, or that
8. The licensee has failed to pay the fine required by this act for failure to file reports to the administrator within the time stipulated, or that
9. The licensee has defrauded any retail buyer to the buyer's damage or wilfully failed to perform any written agreement with any retail buyer, or that
10. Any fact or condition exists or is discovered which, if it had existed or had been discovered at the time of filing of the application for such license, would have warranted the administrator in refusing to issue such license.
(b) The administrator may revoke or suspend only the particular license with respect to which grounds for revocation may occur or exist, but if he finds that grounds for revocation are of general application to all places of business or to more than 1 place of business operated by a licensee, he may revoke all of the licenses issued to such licensee or those licenses to which grounds for revocation apply, as the case may be.
(c) Whenever a license has been revoked, the administrator shall not issue another license to the licensee pursuant to the provisions of this act until the expiration of at least 1 year from the effective date of revocation of said license.
(d) Appeals may be taken from the action of the administrator in accordance with procedure prescribed in section 30 of Act No. 319 of the Public Acts of 1969, being section 487.330 of the Compiled Laws of 1948.
History: 1950, Ex. Sess., Act 27, Eff. Mar. 31, 1951
Am. 1970, Act 114, Imd. Eff. July 23, 1970
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