                                 CODE OF VIRGINIA

NOTICE OF PROPOSED SUSPENSION OR REVOCATION (§ 6.2-1420)

The Commission may not revoke or suspend the authority of an association to do
business upon any of the grounds set forth in § 6.2-1418 until it has given the
association 21 days&#8217; notice in writing of the reasons for the proposed
revocation or suspension and an opportunity to introduce evidence and be heard.
The notice shall be sent by certified mail to the principal place of business of
the association and shall state with particularity the grounds for the
contemplated action. Within 14 days of mailing the notice, the association may
file with the clerk of the Commission a written request for a hearing. If a
hearing is so requested, the Commission shall not suspend or revoke the
association&#8217;s authority to do business except based upon findings made at
such hearing.

HISTORY: 1993, c. 419, § 6.1-237.10; 2010, c. 794.