§ 11-701.1. Summary orders
West's Annotated Code of MarylandCorporations and AssociationsEffective: October 1, 2017
Effective: October 1, 2017
MD Code, Corporations and Associations, § 11-701.1
§ 11-701.1. Summary orders
(a) Whenever the Commissioner determines that a person has engaged or is about to engage in any act or practice constituting a violation of any provision of this title or any rule or order under this title or that a person has knowingly or recklessly provided substantial assistance, is knowingly or recklessly providing substantial assistance, or is about to knowingly or recklessly provide substantial assistance to another person in connection with an act, a practice, or a course of business constituting a violation of this title or a rule adopted or an order issued under this title, and that immediate action against such person is in the public interest, the Commissioner may in his discretion issue, without a prior hearing, a summary order directing such person to cease and desist from engaging in such activity, provided that the summary cease and desist order gives the person:
(b) Whenever the Commissioner determines after notice and a hearing (unless the right to notice and a hearing is waived) that a person has engaged in any act or practice constituting a violation of any provision of this title or any rule or order under this title or that a person has knowingly or recklessly provided substantial assistance to another person in connection with an act, a practice, or a course of business constituting a violation of this title or a rule adopted or an order issued under this title, the Commissioner may in his discretion and in addition to taking any other action authorized under this title:
Credits
Added by Acts 1989, c. 533. Amended by Acts 1992, c. 620; Acts 2017, c. 837, § 1, eff. Oct. 1, 2017; Acts 2017, c. 838, § 1, eff. Oct. 1, 2017.
MD Code, Corporations and Associations, § 11-701.1, MD CORP & ASSNS § 11-701.1
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.
End of Document |