§485-18.7  Violation of chapter; cease and desist order.  (a)  Whenever it appears to the commissioner that any person has engaged or is about to engage in any act or practice constituting a violation of any provision of this chapter or any rule or order issued or promulgated hereunder, the commissioner may in the commissioner's discretion issue a cease and desist order to enforce compliance with this chapter or any rule or order issued or promulgated hereunder.  The commissioner shall have the discretion to determine the disposition of any contracts entered into by the respondent and shall specify in the order whether such contracts shall be suspended, completed, or rescinded.  The commissioner shall have the discretion to include in the order an assessment of an administrative penalty against any person who violates this chapter or who has knowingly violated a rule or order of the commissioner made pursuant to this chapter.  An administrative penalty of not more than $100,000 may be assessed for each violation.

     (b)  Upon the issuance of an order by the commissioner under subsection (a), the commissioner shall promptly notify the respondent that an order has been issued and the reasons therefor and that upon the receipt of a written request made within thirty days the matter will be set for a hearing to commence within fifteen business days after receipt of the request unless extended by the commissioner for good cause.  During the pendency of any hearing requested under this subsection, the cease and desist order shall remain in effect unless vacated or modified by the commissioner; provided that any penalty shall not take effect until the final order is issued.

     (c)  After the hearing, the commissioner shall issue a final order that shall affirm, vacate, or modify the order in effect during the pendency of the hearing.  If no hearing is requested and none is ordered by the commissioner, the cease and desist order shall constitute the final order issued and shall remain in effect until it is modified or vacated by the commissioner.

     (d)  All hearings and rehearings shall be public.

     (e)  Upon a proper showing, a permanent or temporary injunction, restraining order, or writ of mandamus shall be granted and a receiver or conservator may be appointed for the respondent or the respondent's assets.  The court shall not require the commissioner to post a bond. [L 1985, c 100, §1; gen ch 1985; am L 1991, c 30, §1]