The department shall, under the Administrative Procedure Act (AS 44.62), revoke any license issued under this chapter if it finds that (1) the licensee has failed to pay the annual license fee or to maintain the required bond in effect or has failed to comply with any lawful demand, ruling, or requirement of the department […]
Where a licensee holds more than one license, the department may revoke or suspend any license for which grounds for the action exist.
A licensee may surrender a license by delivering written notice of the surrender to the department. The surrender does not affect the licensee’s civil or criminal liability for acts committed before the surrender.
A revocation, suspension, or surrender of a license does not impair or affect the legally enforceable obligation of any pre-existing contract between the licensee and any borrower.
Every license remains in force and effect until it is surrendered, revoked, or suspended as provided in this chapter. The department may reinstate, suspend licenses, or issue new licenses to a licensee whose license has been revoked if no fact or condition exists that clearly would have constituted ground for denial of the issuance of […]
