66-32-125 - Effective date of registration Incomplete or inadequate application. - Tennessee Statutes

66-32-125. Effective date of registration Incomplete or inadequate application.

(a)  Except as otherwise provided in this section, the effective date of the registration, or any amendment thereto, shall be the forty-fifth day after the filing thereof or such earlier date as the commission may determine, having due regard to the public interest and the protection of purchasers. If any amendment to any such registration is filed prior to the effective date, the registration shall be deemed to have been filed when such amendment was filed.

(b)  If it appears to the commission that the application for registration, or any amendment thereto, is on its face incomplete or inaccurate in any material respect, the commission shall so advise the developer prior to the date the registration would otherwise be effective. Such notification shall serve to suspend the effective date of the filing until the forty-fifth day after the developer files such additional information as the commission shall require. Any developer, upon receipt of such notice of suspension, may request a hearing.

[Acts 1981, ch. 372, § 26; T.C.A., § 64-3226.]