33-25-301. Refusal, suspension, or revocation of title insurance producer's license. (1) In addition to the causes provided in 33-17-1001, the commissioner may refuse to license a person as a title insurance producer or may suspend or revoke a title insurance producer's license if, after a hearing held after notice as required in 33-17-1001, he finds that the license applicant or licensee has:
     (a) made a material misstatement in an application for a title insurance producer license;
     (b) commingled funds belonging to applicants, escrow participants, or others;
     (c) intentionally misrepresented the terms of a title insurance policy to an applicant or policyholder or has misrepresented material facts to, concealed material facts from, or made false statements to a party to an escrow, settlement, or closing transaction;
     (d) in the conduct of his affairs under his title insurance producer's license, used coercive practices or shown himself to be financially irresponsible;
     (e) aided, abetted, or assisted another person in violating the provisions of this title or a rule adopted by the commissioner.
     (2) The commissioner may impose any other appropriate penalty provided for in this title.
     (3) The commissioner may refuse, suspend, or revoke the license of a person licensed as a title insurance producer for the actions described in subsection (1) of any individual designated in the license to exercise its powers.

     History: En. Sec. 10, Ch. 519, L. 1985; amd. Sec. 63, Ch. 713, L. 1989.