(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.
(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.
(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.