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Code · North Carolina · Chapter 53 — Regulation of Financial Services

§ 53-244.113. Regulatory authority.

238 words·~1 min read·/nc/chapter-53/53-244-113

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§ 53-244.113. Regulatory authority.
(a)Unless otherwise provided, all actions, hearings, and procedures under this Article are governed by Article 3A of Chapter 150B of the General Statutes.
(b)For purposes of this Article, the Commissioner is deemed to have complied with the requirements of law concerning service of process upon mailing by certified mail or depositing with a delivery service authorized by 26 U.S.C. § 7502(f)(2) any notice required or permitted to a licensee or registrant under this Article, postage or fees prepaid and addressed to the last known address of the licensee or registrant on file with the Commissioner pursuant to G.S. 53-244.105(c). Any person subject to this Article that is not licensed or registered shall be served in accordance with G.S. 150B-38(c).
(c)Upon the issuance of any summary order permitted under this Article, including summary suspensions and cease and desist orders, the Commissioner shall promptly notify the person subject to the order that the order has been entered and the reasons for the order. Within 20 days of receiving notice of the order, the person subject to the order may request in writing a hearing before the Commissioner. Upon receipt of the request, the Commissioner shall calendar a hearing within 15 days. If a person does not request a hearing, the order will remain in effect unless it is modified or vacated by the Commissioner. (2009-374, s. 2; 2015-293, s. 1; 2025-43, s. 1.)
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