§ 559. Grounds for revocation of license; procedure. 1. The
superintendent may forthwith revoke or suspend any license issued
hereunder if he shall find that:

(a) The licensee has failed to pay the annual license fee or any sum
of money lawfully demanded, or to comply with any demand, ruling, or
requirement of the superintendent lawfully made pursuant to and within
the authority of this article;

(b) The licensee has violated any provision of this article, the act
of congress entitled "Truth in Lending Act" and the regulations
thereunder, as such act and regulations may from time to time be amended
or any rule or regulation lawfully made by the superintendent under and
within the authority of this article;

(c) Any fact or condition exists which, if it had existed at the time
of the original application for such license, clearly would have
warranted the superintendent in refusing originally to issue such
license.

2. The superintendent may revoke or suspend only the particular
license with respect to which grounds for revocation or suspension may
occur or exist, or, if he shall find that such grounds for revocation or
suspension are of general application to all offices, or to more than
one office, operated by such licensee, he shall revoke or suspend all of
the licenses issued to such licensee or such number of licenses as such
grounds apply to, as the case may be.

3. Any licensee may surrender any license by delivering to the
superintendent written notice that he thereby surrenders such license,
but such surrender shall not affect such licensee's civil or criminal
liability for acts committed prior to such surrender.

4. No revocation or suspension or surrender of any license shall
impair or affect the obligation of an insured under any lawful premium
finance agreement previously acquired or held by the licensee.

5. Every license issued hereunder shall remain in force and effect
until the same shall have been surrendered, revoked, or suspended in
accordance with the provisions of this article, but the superintendent
shall have authority to reinstate suspended licenses or to issue new
licenses to a licensee whose license or licenses shall have been revoked
if no fact or condition then exists which clearly would have warranted
the superintendent in refusing originally to issue such license under
this article.

6. Whenever the superintendent shall revoke or suspend a license
issued pursuant to this article, he shall forthwith execute in
triplicate a written order to that effect. The superintendent shall file
one copy of such order in the office of the department, file another in
the office of the clerk of the county in which is located the place
designated in such license and forthwith serve the third copy upon the
licensee, which order may be reviewed in the manner provided by article
seventy-eight of the civil practice law and rules. Such special
proceeding for review as authorized by this section must be commenced
within thirty days from the date of such order of suspension or
revocation.

7. The superintendent may, on good cause shown, or where there is a
substantial risk of public harm, suspend any license issued pursuant to
this article for a period not exceeding thirty days, pending
investigation. "Good cause", as used in this subdivision, shall exist
only when the licensee has defaulted or is likely to default in
performing its financial engagements or engages in dishonest or
inequitable practices which may cause substantial harm to the persons
afforded the protection of this article.