Upon a finding by the commission that there is good cause to believe that a registered institution, or an officer, agent, employee, partner or instructor, has committed a violation of section 75-60-19, Mississippi Code of 1972, as amended, the commission shall initiate proceedings as outlined below:
A. The commission shall initiate proceedings by serving a notice of hearing upon each and every such party subject to the administrative action. The institution or such party shall be given reasonable notice of the hearing, including the time, place and nature of the hearing and a statement sufficiently particular to give notice of the transactions or occurrences intended to be proved, the material elements of each cause of action and the civil penalties and administrative sanctions sought.B. Opportunity shall be afforded to the party to respond and present evidence and argument on the issues involved in hearing including the right of cross-examination. In a hearing, the institution or such party shall be accorded the right to have its representative appear in person or with counsel or other representative. Disposition may be made in any hearing by stipulation, agreed settlement, consent order, default or other informal method.C. The commission shall designate an impartial hearing officer to conduct the hearing, who shall be empowered to: a. Administer oaths and affirmations; andb. Regulate the course of the hearings, set the time and place for continued hearings, and fix the time for filing of briefs and other documents; andc. Direct the institution or such party to appear and confer to consider the simplification of the issues by consent; andd. Grant a request for an adjournment of the hearing only upon good cause shown.The strict legal rules of evidence shall not apply, but the decision shall be supported by substantial evidence in the record.
The commission, acting by and through its hearing officer, is authorized and empowered to issue subpoenas for the attendance of witnesses and the production of books and papers at such hearing. Process issued by the commission shall extend to all parts of the state and shall be served by any person designated by the commission for such service. Where, in any proceeding before the hearing officer, any witness fails or refuses to attend upon a subpoena issued by the commission, refuses to testify, or refuses to produce any books and papers the production of which is called for by a subpoena, the attendance of such witness, the giving of his testimony or the production of the books and papers shall be enforced by any court of competent jurisdiction of this state in the manner provided for the enforcement of attendance and testimony of witnesses in civil cases in the courts of this state.
9 Miss. Code. R. § 7-3-3.21