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COMMONWEALTH OF MASSACHUSETTS
COMMISSIONER OF BANKS
MOTOR VEHICLE SALES
Docket No. 2009-11-OTSC
DIVISION OF BANKS, Petitioner
FAFAMA AUTO SALES, INC., Respondent
Motor Vehicle Sales Finance Company License No. MV0548
Petitioner Division of Banks ("Division") and Respondent Fafama Auto Sales, Inc. ("Fafama") hereby submit this Joint Stipulation and proposed Order for the Administrative Hearing Officer's approval.
WHEREAS, on April 27, 2010, the Division issued an Order to Show Cause and Notice of Intent to Revoke Motor Vehicle Sales Finance Company License against Fafama ("Order to Show Cause"), Docket No. 2009-11-OTSC, based on Fafama's failure to comply with the terms of an executed Stipulation and Consent to the Issuance of a Consent Order entered into by the Division and Fafama on February 27, 2009;
WHEREAS, a status conference was held regarding this matter on June 22, 2010;
WHEREAS, for the purpose of settlement of all alleged violations and charges set forth in the Order to Show Cause, Fafama hereby waives its right to complete the formal adjudicative hearing process relative to this matter and waives further appeals to any court in regard to the terms and conditions of this joint stipulation.
NOW COME the parties in the above-captioned matter, the Division and Fafama, and stipulate and agree as follows:
Respectfully submitted this 15th of July, 2010.
Valerie M. Carbone
Division of Banks
On behalf of the Petitioner
Fafama Auto Sales, Inc.
IT IS SO ORDERED
Aimee Desai, Esq.
Administrative Hearing Officer