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2011 Maine Revised Statutes
TITLE 32: PROFESSIONS AND OCCUPATIONS
Chapter 135: MAINE UNIFORM SECURITIES ACT
32 §16409. Withdrawal of licensing of broker-dealer, agent, investment adviser and investment adviser representative


32 ME Rev Stat § 16409 (2011 through 125th Legis) What's This?

Subchapter 4: BROKER-DEALERS, AGENTS, INVESTMENT ADVISERS, INVESTMENT ADVISER REPRESENTATIVES AND FEDERAL COVERED INVESTMENT ADVISERS HEADING: PL 2005, C. 65, PT. A, §2 (NEW)

§16409. Withdrawal of licensing of broker-dealer, agent, investment adviser and investment adviser representative

Withdrawal of licensing by a broker-dealer, agent, investment adviser or investment adviser representative becomes effective 60 days after the filing of the application to withdraw or within any shorter period authorized by the administrator, unless a revocation or suspension proceeding is pending when the application is filed. If a proceeding is pending, the administrator shall make a determination with respect to the withdrawal application as part of the proceeding. The administrator may institute a revocation or suspension proceeding under section 16412 within one year after the withdrawal became effective automatically and issue a revocation or suspension order as of the last date on which licensing was effective. [2005, c. 65, Pt. A, §2 (NEW).]

SECTION HISTORY

2005, c. 65, §A2 (NEW).

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