MARVIN MANDEL, Governor

1977

BROKER-DEALER;

(4) ANY INJUNCTION, ADMINISTRATIVE ORDER, OR
CONVICTION OF A MISDEMEANOR INVOLVING A SECURITY OR ANY
OTHER ASPECT OF THE SECURITIES BUSINESS;

(5) ANY CONVICTION OF A FELONY; AND

(6) THE APPLICANT'S FINANCIAL CONDITION AND
HISTORY.

(B)       PUBLICATION OF APPLICATION.

THE COMMISSIONER IN HIS DISCRETION MAY PUBLISH AN
ANNOUNCEMENT OF THE APPLICANTS FOR REGISTRATION IN THE
NEWSPAPERS HE DETERMINES.

(C)       EFFECTIVE DATE OF REGISTRATION.

IF A DENIAL ORDER IS NOT IN EFFECT AND          A

PROCEEDING IS NOT PENDING UNDER §§ 11-412 THROUGH 11-414
OF THIS SUBTITLE, REGISTRATION BECOMES EFFECTIVE AT NOON
OF THE 30TH DAY AFTER AN APPLICATION IS FILED.          THE

COMMISSIONER BY RULE OR ORDER MAY SPECIFY AN EARLIER
EFFECTIVE DATE, AND HE BY ORDER MAY DEFER THE EFFECTIVE
DATE UNTIL NOON OF THE 30TH DAY AFTER THE FIXING OF ANY
AMENDMENT.

REVISOR'S NOTE: This section presently appears as
Art. 32A, §16(a)(1).

The only changes are technical changes in
style.

11-406.        RENEWAL REGISTRATION.

(A)       FOR BROKER-DEALER.

A BROKER-DEALER MAY OBTAIN A RENEWAL REGISTRATION BY
FILING WITH THE COMMISSIONER AN APPLICATION CONTAINING
WHATEVER INFORMATION THE COMMISSIONER BY RULE REQUIRES TO
KEEP CURRENT THE INFORMATION CONTAINED IN THE APPLICATION
FOR INITIAL REGISTRATION.

(B)       FOR AGENT.

A BROKER-DEALER OR ISSUER MAY OBTAIN A RENEWAL
REGISTRATION FOR THE AGENTS ASSOCIATED WITH IT BY FILING
WITH THE COMMISSIONER AN APPLICATION CONTAINING THE NAMES
OF THE AGENTS ASSOCIATED WITH IT AND A CERTIFICATION
THAT, TO THE BEST KNOWLEDGE, INFORMATION, AND BELIEF OF
THE BROKER-DEALER OR ISSUER:

(1)           THERE HAS BEEN NO CHANGE IN THE