(1) The commissioner may impose an administrative fine not to exceed one thousand dollars for each separate offense; may issue a letter of admonition; may place a contract seller on probation under the commissioner's close supervision on such terms and for such time as the commissioner deems appropriate; and may refuse to renew, may revoke, or may suspend the license of any contract seller if, after an investigation and after notice and a hearing pursuant to the provision of section 24-4-104, C.R.S., the commissioner determines that the contract seller has:
Failed to comply with or has violated any provision of this article or any regulationor order lawfully made pursuant to and within the authority of this article; or
Used false or misleading advertising or made any false or misleading statement orconcealment in the contract seller's application for licensure; or
Employed any device, scheme, or artifice which results in defrauding a contract buyer; or
Disposed of, concealed, diverted, converted, or otherwise failed to account for anyfunds or assets of any contract buyer which are subject to regulation pursuant to this article; or
Committed any act that constitutes a violation of the "Colorado Consumer ProtectionAct", article 1 of title 6, C.R.S.; or
Been convicted of, or any officer, director, or controlling shareholder has been convicted of, a crime involving fraud or misappropriation or misuse of funds; or
Failed to provide appropriate records requested by the commissioner as part of aninvestigation of a complaint filed with the commissioner.
Source: L. 95: Entire article R&RE, p. 1043, § 1, effective May 25.
Editor's note: This section is similar to former § 10-15-114 as it existed prior to 1995.