533D.12 Disciplinary action.
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1. The superintendent may, after notice and hearing pursuant to chapter 17A, take disciplinary action against a licensee if the superintendent finds any of the following:
a. The licensee or any of its officers, directors, shareholders, partners, or members has violated this chapter, any rule adopted by the superintendent, or any other state or federal law applicable to the conduct of its business.
b. The licensee has failed to pay a license fee required under this chapter or to maintain in effect the bond or bonds required under this chapter.
c. A fact or condition existing which, if it had existed at the time of the original application for the license, would have resulted in the denial of issuance of a license.
d. The licensee has abandoned its place of business for a period of sixty days or more.
e. The licensee fails to pay an administrative penalty or the cost of investigation as ordered by the superintendent.
f. The licensee has violated an order of the superintendent.
2. The superintendent may impose one or more of the following disciplinary actions against a licensee:
a. Revoke a license.
b. Suspend a license until further order of the superintendent or for a specified period of time.
c. Impose a period of probation under specified conditions.
d. Impose civil penalties in an amount not to exceed five thousand dollars for each violation.
e. Issue a citation and warning respecting licensee behavior.
f. Order the licensee to pay restitution.
3. The superintendent may order an emergency suspension of a licensee’s license pursuant to section 17A.18A. A written order containing the facts or conduct which warrants the emergency action shall be timely sent to the licensee by restricted certified mail. Upon issuance of the suspension order, the licensee must also be notified of the right to an evidentiary hearing. A suspension proceeding shall be promptly instituted and determined.
4. Except as provided in this section, a license shall not be revoked or suspended except after notice and a hearing thereon in accordance with chapter 17A.
5. A licensee may surrender a license by delivering to the superintendent written notice of surrender, but a surrender does not affect the licensee’s civil or criminal liability for acts committed before the surrender.
6. A revocation, suspension, or surrender of a license does not impair or affect the obligation of a preexisting lawful contract between the licensee and any person, including a debtor.