A. A suspension of the license of a service warranty association shall be for such period, not to exceed one (1) year, as is fixed in the order of suspension, unless such suspension or the order upon which the suspension is based is modified, rescinded, or reversed.
B. During the period of suspension, the association shall file any financial statements and pay any fees as required by the Service Warranty Act as if the license had been continued in full force.
C. Upon expiration of the suspension period, if within such period the license has not otherwise terminated, the license of the association shall automatically be reinstated, unless the causes of the suspension have not been removed or the association is otherwise not in compliance with the requirements of the Service Warranty Act.
Added by Laws 2012, c. 150, § 11, eff. Nov. 1, 2012. Amended by Laws 2018, c. 234, § 4, eff. Nov. 1, 2018.