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§ 11-512. Postponement of effectiveness

West's Annotated Code of MarylandCorporations and Associations

West's Annotated Code of Maryland
Corporations and Associations
Title 11. Maryland Securities Act (Refs & Annos)
Subtitle 5. Registration of Securities (Refs & Annos)
MD Code, Corporations and Associations, § 11-512
§ 11-512. Postponement of effectiveness
Currentness
Final determination
(a) The Commissioner by order summarily may postpone or suspend the effectiveness of the registration statement pending final determination of any proceeding under § 11-511 of this subtitle.
Notice
(b) On the entry of the order, the Commissioner promptly shall notify each person specified in § 11-513 of this subtitle:
(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.
Effect of hearing
(c)(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 of and opportunity for hearing to each person specified in § 11-513 of this subtitle, may modify or vacate the order or extend it until final determination.

Credits

Added by Acts 1975, c. 311, § 2, eff. July 1, 1975.
Formerly Art. 32A, § 24.
MD Code, Corporations and Associations, § 11-512, MD CORP & ASSNS § 11-512
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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