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The Vermont Statutes Online



Title

08

:
Banking and Insurance






Chapter

085

:
LOAN SERVICERS











 

§

2905. Review of denial of application

(a) If the

application is denied, the applicant may request that the Commissioner

reconsider the application by making such request in writing, within 15 days of

the denial, responding specifically to the Commissioner's stated reason or

reasons for denial. The Commissioner shall then reconsider the application in

light of the response stated in the request for reconsideration. Within 60 days

of filing the request, upon findings as set forth in section 2904 of this

title, the Commissioner shall issue the license.

(b) If the

Commissioner is unable to make findings as set forth in section 2904 of this

chapter, the Commissioner shall not issue a license. Within 60 days of filing

of the request for reconsideration, the Commissioner shall notify the applicant

of the denial, and return to the applicant the bond and the sum paid by the

applicant as a license fee, retaining the investigation fee to cover the costs

of investigating the application. The applicant may request review by the

Superior Court in Washington County upon action brought in the usual form by an

aggrieved party within 15 days after written notice of the denial of the

request for reconsideration. (Added 2009, No. 96 (Adj. Sess.), § 1, eff. Jan.

1, 2011.)