Section 11-413 - Summary postponement or suspension. - Maryland Statutes

§ 11-413. Summary postponement or suspension.
 

(a)  Authority of Commissioner.- The Commissioner by order summarily may postpone or suspend registration pending final determination of any proceeding under § 11-412 of this subtitle. 

(b)  Notification.- On the entry of the order, the Commissioner promptly shall notify the applicant or registrant, as well as the employer or prospective employer if the applicant or registrant is an agent or investment adviser representative: 

(1) That it has been entered; 

(2) The reasons for its entry; and 

(3) That within 15 days after the receipt of a written request the matter will be set down for hearing. 

(c)  Effect of order.-  

(1) If a hearing is not requested and one is not ordered by the Commissioner, the order will remain in effect until it is modified or vacated by the Commissioner. 

(2) If a hearing is requested or ordered, the Commissioner, after notice and opportunity for hearing, may modify or vacate the order or extend it until final determination. 
 

[An. Code 1957, art. 32A, § 18; 1975, ch. 311, § 2; 1989, ch. 805, § 2.]