Oklahoma § 6-2116 - Revocation of license - Hearing - Grounds

§ 6-2116. Revocation of license - Hearing - Grounds

(a) The Commissioner may, upon ten (10) days' notice to the

licensee, stating the contemplated action and in general the grounds

therefor, hold a hearing at which the licensee shall have a

reasonable opportunity to be heard, for the purpose of determining

whether a license should be revoked, for failure of the licensee to

comply with the provisions of this act and the regulations

hereunder. After such hearing the Commissioner may revoke any

license issued hereunder if he finds that:

Oklahoma Statutes - Title 6. Banks and Trust Companies

1. The licensee has failed to pay the annual license fee or to

maintain the bond or the deposit or securities required by this act;

or

2. The licensee has failed to comply with any order, decision

or finding of the Commissioner made pursuant to this act; or

3. The licensee has violated any provision of this act; or

4. Any fact or condition exists which, if it had existed at the

time of the original application for a license, would have warranted

the Commissioner in refusing its issuance.

(b) A licensee may surrender any license by delivering to the

Commissioner written notice that he surrenders such license, but

such surrender shall not affect such licensee's civil or criminal

liability on any bond, or entitle such licensee to a return of any

part of any license fee.

Added by Laws 1961, p. 429, § 16.