MARVIN MANDEL, Governor

2003

The only changes are technical changes in
style.

11-513,           PREREQUISITES TO STOP ORDER.

A STOP ORDER MAY NOT BE ENTERED UNDER ANY PART OF
§§ 11-511 OR 11-512 OF THIS SUBTITLE, EXCEPT §11-512(A),
WITHOUT:

(1)       APPROPRIATE PRIOR NOTICE TO THE APPLICANT
OR REGISTRANT, THE ISSUER, AND THE PERSON ON WHOSE BEHALF
THE SECURITIES ARE TO BE OR HAVE BEEN OFFERED;

(2)       OPPORTUNITY FOR HEARING; AND

(3)       WRITTEN FINDINGS OF FACT AND CONCLUSIONS
OF LAW.

REVISOR'S NOTE: This section presently appears as
Art. 32A, §24(c).

The only changes are technical changes in
style.

11-514. VACATION OR MODIFICATION OF STOP ORDER.

THE COMMISSIONER MAY VACATE OR MODIFY A STOP ORDER
IF HE FINDS THAT THE CONDITIONS WHICH PROMPTED ENTRY HAVE
CHANGED OR THAT IT IS OTHERWISE IN THE PUBLIC INTEREST TO
DO SO.

REVISOR'S NOTE: This section presently appears as
Art. 32A, §24(d).

The only changes are technical changes in
style.

SUBTITLE 6. EXEMPTIONS.

11-601. EXEMPT SECURITIES.

THE FOLLOWING SECURITIES ARE EXEMPTED FROM §§
11-205 AND 11-501 OF THIS TITLE:

(1) (I) ANY SECURITY, INCLUDING A REVENUE
OBLIGATION, ISSUED OR GUARANTEED BY THE UNITED STATES,
ANY STATE, ANY POLITICAL SUBDIVISION OF A STATE, OR ANY
AGENCY OR CORPORATION OR OTHER INSTRUMENTALITY OF ONE OR
MORE OF THEM OR BY THE DEVELOPMENT CREDIT CORPORATION OF
MARYLAND; OR

(II) ANY CERTIFICATE OF DEPOSIT FOR ANY OF
THE THESE SECURITIES;