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(a) Upon written application of a person who was refused a license or whose license was not renewed or was revoked, or surrendered for cause under section 776, the Commissioner shall hold a hearing to determine whether the administrative action imposing the refusal, nonrenewal, revocation, or other administrative action should be modified, if all if the following conditions are met:
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(1) At least five years have elapsed since the date of the administrative action sought to be modified;
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(2) At least two years have elapsed since any previous request for a modification was made under this section;
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(3) The person is of good business repute and does not have a history of moral turpitude;
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(4) The person has made restitution for all pecuniary losses suffered by any person as a result of the conduct that gave rise to the administrative action;
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(5) The person has not been convicted of any felony or of any misdemeanor described in section 776, unless the conviction was the subject of a previous administrative action by the Commissioner;
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(6) The circumstances surrounding the previous violation are such that it is unlikely the person would commit such offenses in the future; and
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(7) The person’s character has been rehabilitated.
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(b) The burden of proof is on the person requesting the modification.
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(c) The modification of an order issued under section 54 of this title is at the discretion of the Commissioner.
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(d) The issuance of any license pursuant to a modification under this section is conditioned upon the successful completion of all pre licensing education or examination requirements.
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(e) For the purpose of this section, administrative action does not include suspension that cannot exceed 12 months.