90.440 - Withdrawal. - Nevada Statutes

90.440  Withdrawal.

      1.  An application for a license may be withdrawn by the applicant without prejudice before the license becomes effective.

      2.  Withdrawal from licensing as a broker-dealer, sales representative, investment adviser or representative of an investment adviser becomes effective 30 days after receipt by the Administrator of an application to withdraw or within such shorter period as the Administrator determines, unless:

      (a) A proceeding to revoke or suspend is pending when the application is filed;

      (b) A proceeding to revoke or suspend or to impose conditions upon the withdrawal is instituted within 30 days after the application is filed; or

      (c) Additional information is requested by the Administrator regarding the application.

      3.  If a proceeding is pending or instituted under subsection 2, withdrawal becomes effective at the time and upon the conditions the Administrator by order determines. If additional information is requested, withdrawal is effective 30 days after the additional information is filed. Although no proceeding is pending or instituted and withdrawal becomes effective, the Administrator may institute a proceeding pursuant to NRS 90.420 within 2 years after withdrawal became effective and enter an order as of the last date on which licensing was effective.

      (Added to NRS by 1987, 2160; A 1989, 160; 1995, 1449; 2001, 1157)