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The Vermont Statutes Online



Title

08

:
Banking and Insurance






Chapter

085

:
LOAN SERVICERS











 

§

2912. Surrender of license; no effect on liability; reinstatement

(a) Any licensee

may surrender any license by delivering to the Commissioner the license and

notice that the licensee thereby surrenders such license.

(b) Surrender

shall not affect the licensee's administrative, civil, or criminal liability

for acts committed prior to surrender. No revocation, suspension, refusal to

renew, or surrender of any license shall impair or affect the obligation of any

preexisting lawful contract.

(c) The Commissioner

shall have authority to reinstate revoked, suspended, terminated, expired,

inactive, or nonrenewed licenses or to issue new licenses to a licensee whose

license or licenses shall have been revoked, suspended, terminated, expired,

inactive, or nonrenewed if no fact or condition then exists which clearly would

have warranted the Commissioner refusing originally to issue such license under

this chapter. (Added 2009, No. 96 (Adj. Sess.), § 1, eff. Jan. 1, 2011.)