Section 221-F. Grounds for suspension or revocation of license; procedure

1. The superintendent may revoke any  license  issued  hereunder  if  it
  shall be found that:
    (a)  The  licensee or its representative has violated any provision of
  this article, or of any rule or regulation made  by  the  superintendent
  under and within the authority of this article or of any other law, rule
  or regulation of this state.
    (b)  Any fact or condition exists which, if it had existed at the time
  of the original application for such license, would have  warranted  the
  superintendent in refusing originally to issue such license.
    2.  The  superintendent  may, on good cause shown, suspend any license
  for a period not exceeding thirty days, pending investigation.
    3. Except as provided in subdivision two of this section,  no  license
  shall be revoked or suspended except after notice and a hearing thereon.
    4.  Any  licensee  may  surrender  any  license  by  delivering to the
  superintendent written notice that it thereby surrenders  such  license,
  but  such  surrender  shall not affect such licensee's civil or criminal
  liability for acts committed prior to such surrender.
    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 a suspended license or to issue a new
  license to a licensee whose license shall have been revoked if  no  fact
  or  condition  then exists which 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, a written order shall be immediately
  executed in duplicate to that effect. The superintendent shall file  one
  copy  of such order in the office of the department of banking and shall
  forthwith serve the other copy upon the licensee. Any such order may  be
  reviewed  in  the  manner provided by article seventy-eight of the civil
  practice law and rules. Such application for  review  as  authorized  by
  this section must be made within thirty days from the date of such order
  of suspension or revocation.