La. Admin. Code tit. 10 § XVII-501

Current through Register Vol. 50, No. 11, November 20, 2024

Section XVII-501 - Informal Opportunity to Show Compliance

A. Definitions

Commissioner- the Commissioner of the Louisiana Office of Financial Institutions.

Licensee- any person or entity chartered or licensed by the Louisiana Office of Financial Institutions.

Office- the Louisiana Office of Financial Institutions.

B. Prior to the institution of agency proceedings regarding the revocation, suspension, annulment, or withdrawal of a license, when such action must be accomplished pursuant to the Administrative Procedure Act, R.S. 49:950 et seq., the office shall give notice by mail to the licensee, setting forth the facts or conduct which serve(s) as the office's basis for such action. The notice shall advise the licensee that he is being offered an opportunity to participate in an informal meeting with a representative of the office to show compliance with all lawful requirements for retention of the license, in conformity with R.S. 49:961(C).

C. The licensee shall have 15 calendar days from receipt of such notice to request, in writing, an informal meeting. Such informal meeting shall be held not less than 10 days nor more than 30 days following receipt of the licensee's request for the meeting, unless the commissioner determines that an extension is warranted.

D. Notwithstanding any other provision of this rule, if the office finds that the public health, safety, or welfare imperatively requires emergency action, and incorporates a finding to that effect in an order to the licensee, summary suspension may be ordered pending proceedings for revocation or other action. These proceedings shall be promptly instituted and determined.

La. Admin. Code tit. 10, § XVII-501

Promulgated by the Department of Economic Development, Office of Financial Institutions, LR 23:1638 (December 1997).

AUTHORITY NOTE: Promulgated in accordance with R.S. 49:952(2).