Utah Admin. Code R628-16-12 - Procedures for Suspension or Termination and Reinstatement of Status
A. Where it appears
to the Division or to the Council that grounds may exist to suspend a certified
dealer or terminate status as a certified dealer, the Council shall proceed
under the Utah Administrative Procedures Act, Chapter 4, Title 63G.
B. All proceedings to suspend a certified
dealer or to terminate status as a certified dealer are designated as informal
proceedings under the Utah Administrative Procedures Act.
C. In any hearings held, the Chair of the
Council shall be the presiding officer, and that person may act as the hearing
officer, or may designate another person from the Council or the Division to be
the hearing officer. At the election of the presiding officer, other members of
the Council may issue recommendations to the hearing officer after the close of
the hearing.
D. The Notice of
Agency Action, or any petition filed in connection with it, required under the
Utah Administrative Procedures Act, shall include a statement of the grounds
for termination, and the remedies required to cure the violation.
E. After the date of service of the Notice of
Agency Action, the certified dealer and its agents shall not conduct any
investment transaction with any public treasurer if so ordered by the Money
Management Council. The order issued by the hearing officer at the conclusion
of the proceedings shall lift this prohibition if the order allows the
certified dealer to keep its status as a certified dealer.
Notes
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