1. If the Commissioner has reason to believe that grounds exist for the suspension, revocation or denial of renewal of a license, the Commissioner shall give 10 days’ written notice to the licensee, stating the grounds therefor, and shall set a date for a hearing, if a hearing is requested by the licensee. If the protection of the public so requires, the Commissioner may suspend the license at any time before the hearing.

2. At the conclusion of the hearing, the Commissioner shall enter a written order either dismissing the charges or suspending, revoking or denying the renewal of the license. The order must include a statement of the grounds for the action taken by the Commissioner and becomes effective 10 days after receipt of a copy of the order by the licensee at the licensee’s principal place of business. The Commissioner may immediately suspend, revoke or deny the renewal of the license in a case where the licensee has failed to maintain in effect the required surety bond or insurance policy.

3. The grounds for suspension, revocation or denial of renewal of a license are:

(a) Failure to pay the annual fee for renewal or the fee for late renewal;

(b) Failure to maintain in effect the required bond or securities;

(c) Fraud, misrepresentation or omission of any material fact in any application, statement or report;

(d) Failure to pay any judgment arising from the licensee’s business within 30 days after the judgment becomes final or within 30 days after the expiration of a stay of execution on the judgment; or

(e) Violation of any provision of this chapter or any regulation adopted or order issued by the Commissioner pursuant to this chapter.

4. Any action taken by the Commissioner pursuant to this section is subject to judicial review in the first judicial district court.

(Added to NRS by 1977, 1088; A 1983, 1769; 1987, 1955; 1989, 920)