55-397 - Cancellation of cease and desist order; reinstatement of registration of developer. - Virginia Statutes

§ 55-397. Cancellation of cease and desist order; reinstatement ofregistration of developer.

A. The Board shall stipulate to the developer the reason for any cease anddesist order, or revocation of registration as outlined in § 55-396, by nolater than the time such order or revocation is to become effective.

B. Should the developer satisfy the Board that it has corrected the reasonsfor the cease and desist order or revocation of registration, then the Boardshall promptly cancel such order or reinstate the registration, andthereafter the developer may continue its offering or disposition oftime-shares.

(1981, c. 462.)