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§ 14-222. Vacation or modification of stock order

West's Annotated Code of MarylandBusiness Regulation

West's Annotated Code of Maryland
Business Regulation (Refs & Annos)
Title 14. Business Opportunities, Franchises, and Multilevel Distribution Companies (Refs & Annos)
Subtitle 2. Franchises (Refs & Annos)
MD Code, Business Regulation, § 14-222
§ 14-222. Vacation or modification of stock order
Currentness
(a) After passing a stop order, the Commissioner promptly shall send to the applicant or registrant a notice that:
(1) states that the stop order has been passed;
(2) states the reasons for the stop order; and
(3) informs the applicant or registrant of the right to a hearing under this section.
(b)(1) The applicant or registrant may submit to the Commissioner a written request for a hearing on the stop order.
(2) The Commissioner shall schedule a hearing within 15 business days after the Commissioner receives the request unless the applicant or registrant consents to a later date.
(3) The Commissioner may schedule a hearing even if the applicant or registrant does not request a hearing.
(c)(1) If a hearing is not requested and is not scheduled by the Commissioner and therefore is not held, the stop order remains in effect until the Commissioner modifies or vacates it.
(2) If a hearing is held, after the hearing, the Commissioner may modify or vacate the stop order or extend it until the Commissioner makes a final determination.
(3) The Commissioner may modify or vacate a stop order if the Commissioner finds that:
(i) conditions have changed; or
(ii) it is otherwise in the public interest to vacate or modify the stop order.

Credits

Added by Acts 1992, c. 4, § 2. Amended by Acts 1992 c. 26, § 4.
Formerly Art. 56, §§ 355, 356.
MD Code, Business Regulation, § 14-222, MD BUS REG § 14-222
Current through legislation effective through April 9, 2023, from the 2024 Regular Session of the General Assembly. Some statute sections may be more current, see credits for details.
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