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Md. Code Ann., Corps. & Ass'ns § 11-414

Known as the Maryland Securities Act

The act spans §§ 11–11 (65 sections).

(a) By order, the Commissioner may cancel a registration or application, if the Commissioner finds that the applicant or registrant:

(1) Has abandoned the application;

(2) Is no longer in existence;

(3) Has ceased to do business as a broker-dealer, agent, investment adviser, or investment adviser representative;

(4) Is subject to an adjudication of mental incompetence or the control of a committee, conservator, or guardian; or

(5) Cannot be located after reasonable search.

(b) The Commissioner may deem abandoned a notice filing that a federal covered adviser has filed under § 11-405 of this subtitle, if the Commissioner finds that the federal covered adviser:

(1) Has abandoned the notice filing;

(2) Is no longer in existence;

(3) Has ceased to do business as a federal covered adviser;

(4) Is subject to adjudication of mental incompetence or to the control of a committee, conservator, or guardian; or

(5) Cannot be located after a reasonable search.

Official source: Maryland General Assembly. Reproduced from public-domain Maryland statutes; confirm against the official source for the current text. Not legal advice.