(a) The department may deny a registration to act as a litigation financier or deny a registered litigation financier’s amended registration pursuant to subsection (f) of Code Section 7-10-2 if the department finds that:

(1) The requirements of this chapter have not been met; or

(2) The applicant or registrant; any person who is a director, officer, partner, or owner of the applicant or registrant; or any individual who directs the affairs of or controls or establishes policy for the applicant or registrant has, within the last ten years, been convicted of a felony in any jurisdiction or of a crime which, if committed within this state, would constitute a felony under the laws of this state. For the purposes of this paragraph, a person shall be deemed to have been convicted of a crime if such person shall have pleaded guilty or nolo contendere to a charge thereof before a court or federal magistrate or shall have been found guilty of such crime by the decision or judgment of a court or federal magistrate or by the verdict of a jury, irrespective of the pronouncement of sentence or the suspension thereof and regardless of whether first offender treatment without adjudication of guilt pursuant to the charge was entered or an adjudication or sentence was otherwise withheld or not entered on such charge, unless and until such plea of guilty or such decision, judgment, or verdict shall have been set aside, reversed, or otherwise abrogated by lawful judicial process or until probation, sentence, or both, of a first offender without adjudication of guilt have been successfully completed and documented or unless the person convicted of the crime shall have received a pardon for such crime from the President of the United States or the governor or other pardoning authority in the jurisdiction where the conviction occurred.

(b) Notice of the department’s intention to enter an order denying a registration or an amended registration shall be provided to the applicant or registrant in writing, sent by registered or certified mail or statutory overnight delivery addressed to the principal place of business of such applicant or registrant. If a person refuses to accept service of the notice by registered or certified mail or statutory overnight delivery, the notice or order shall be served by the commissioner or the commissioner’s authorized representative under any other method of lawful service, and the person shall be personally liable to the commissioner for a sum equal to the actual costs incurred to serve the notice or order. Such liability shall be paid upon notice and demand by the commissioner or the commissioner’s authorized representative and shall be assessed and collected in the same manner as other fees or fines administered by the commissioner.

(c) Within 20 days of the date of the notice of intention to enter an order denying a registration or an amended registration, the applicant or registrant may request in writing a hearing to contest the order. If a hearing is not requested in writing within 20 days of the date of such notice of intention, the department shall enter a final order regarding the denial. Any final order of the department denying a registration or an amended registration shall state the grounds upon which it is based and shall be effective on the date of issuance. A copy of such order shall be forwarded promptly by mail addressed to the principal place of business of such applicant or registrant.

(d) A decision by the department denying a registration or an amended registration shall be subject to review in accordance with Chapter 13 of Title 50, the “Georgia Administrative Procedure Act.”