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(a) If the Banking Board has reason to believe that grounds for suspension of a license exist it may suspend such license and shall send written notice to the licensee of such suspension stating in general, the grounds therefor and setting a date for hearing thereon. Such suspension shall not exceed a period of twenty days pending the holding of a hearing. At the conclusion of such hearing, the Banking Board shall issue a written order either:\n(1) terminating the suspension;\n(2) suspending the license for a period of not more than sixty days which period shall include the temporary suspension; or\n(3) revoking the license.\nThe grounds for revocation or suspension shall be that the licensee, knowingly, has violated any provision of this subchapter.\n(b) Any licensee may surrender any license by delivering it to the Banking Board with written notice of a surrender, but such surrender shall not affect civil or criminal liability for acts committed prior thereto.\n(c) No revocation, suspension or surrender of any license shall impair or affect the obligation of any preexisting lawful contract between the licensee and any obligors, and such contracts and all lawful charges thereon

uspension or surrender of any license shall impair or affect the obligation of any preexisting lawful contract between the licensee and any obligors, and such contracts and all lawful charges thereon may be collected by the licensee, its successors and assigns.