61-4-512. Annual audit -- revocation or suspension of certification. (1) A manufacturer establishing an informal dispute resolution procedure shall file with the department of commerce a copy of the annual audit required under Title 16, Code of Federal Regulations, part 703 (16 CFR, part 703), as those provisions read on October 1, 1983, along with any additional information the department of commerce may require, including the number of refunds and replacements made by the manufacturer during the period audited.
     (2) The department of commerce may, after notice and hearing as provided in Title 2, chapter 4, suspend or revoke the certification of a manufacturer's informal dispute resolution procedure upon a finding that the procedure is being used to create hardship to consumers. The department of commerce shall notify the department of justice of any revocation or suspension of a certification. The department of justice may consider the revocation or suspension in licensing manufacturers under Title 61, chapter 4, part 2.

     History: En. Sec. 8, Ch. 744, L. 1985; amd. Sec. 13, Ch. 503, L. 1985.