Alaska Statutes.
Title 6. Banks and Financial Institutions
Chapter 60. Mortgage Licensing
Section 200. Disciplinary Action.
previous: Section 160. Continuing Education Requirements for Mortgage Loan Originators.
next: Section 210. Suspension, Revocation, or Renewal Related to Fund.

AS 06.60.200. Disciplinary Action.

(a) In addition to other disciplinary action allowed under this chapter or under AS 06.01, the department may deny, suspend, revoke, condition, or decline to renew a license or take other disciplinary action against a person subject to this chapter, including action under a regulation adopted under this chapter, if the department finds that the person

(1) fails to comply with an applicable provision of this title, an applicable regulation adopted under this title, a lawful demand, ruling, order, or requirement of the department, or other state or federal statute or regulation applicable to the conduct of the licensee's business;

(2) fails to meet the minimum standards for issuance or renewal of a license; or

(3) knowingly withholds material information or negligently makes a material misstatement in an application for or renewal of a license.

(b) The department may

(1) order a person subject to this chapter to cease and desist from conducting business, including an immediate temporary order to cease and desist;

(2) order a person subject to this chapter to cease and desist from violating this chapter, including an immediate temporary order to cease and desist;

(3) impose a fine on a person subject to this chapter under AS 06.60.420;

(4) issue an order of rescission, restitution, or disgorgement directed to a person subject to this chapter for a violation of this chapter;

(5) order other affirmative action that the department considers necessary, including an accounting, an asset freeze, or the appointment of a receiver.

(c) A disciplinary action under this section may be taken by itself or in conjunction with one or more other disciplinary actions under this chapter or under AS 06.01.

All content © 2023 by Touch N' Go/Bright Solutions, Inc.

Note to HTML Version:

This version of the Alaska Statutes is current through December, 2022. The Alaska Statutes were automatically converted to HTML from a plain text format. Every effort has been made to ensure their accuracy, but this can not be guaranteed. If it is critical that the precise terms of the Alaska Statutes be known, it is recommended that more formal sources be consulted. For statutes adopted after the effective date of these statutes, see, Alaska State Legislature If any errors are found, please e-mail Touch N' Go systems at E-mail. We hope you find this information useful.