(a) A registration statement may be withdrawn, at the discretion of the Commissioner, after receipt by the Commissioner of an application to withdraw, unless a revocation or suspension proceeding is pending when the withdrawal application is filed.
(b) If a proceeding is pending or instituted, withdrawal shall be effective at the time and upon the conditions that the Commissioner, by order, determines. If no proceeding is pending or instituted and withdrawal becomes effective, the Commissioner may institute a proceeding under § 31-5603.06 and enter an order as of the last date on which the registration was effective.
(c) A registration statement that has not been made effective within one year of the initial filing may be deemed abandoned by the Commissioner.