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3126 LAWS OF MARYLAND Ch. 771
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FIFTEENTH BUSINESS DAY AFTER THE FILING OF THE
APPLICATION FOR REGISTRATION OF THE LAST AMENDMENT TO IT,
OR AT AN EARLIER TIME AS THE COMMISSIONER DETERMINES.
333.
UPON THE ENTRY OF A STOP ORDER, THE COMMISSIONER
SHALL PROMPTLY NOTIFY THE APPLICANT THAT IT HAS BEEN
ENTERED AND OF THE REASONS THERFOR AND THAT UPON RECEIPT
OF WRITTEN REQUEST THE MATTER WILL BE SET DOWN FOR
HEARING TO COMMENCE WITHIN 15 BUSINESS DAYS AFTER THE
RECEIPT UNLESS THE APPLICANT CONSENTS TO A LATER DATE.
IF A HEARING IS NOT REQUESTED AND NONE IS ORDERED BY THE
COMMISSIONER, THE ORDER WILL REMAIN IN EFFECT UNTIL IT IS
MODIFIED OR VACATED BY THE COMMISSIONER. IF A HEARING IS
REQUESTED OR ORDERED, THE COMMISSIONER AFTER NOTICE AND
HEARING MAY MODIFY OR VACATE THE ORDER OR EXTEND IT UNTIL
ITS FINAL DETERMINATION.
334.
THE COMMISSIONER MAY VACATE OR MODIFY A STOP ORDER
IF HE FINDS THAT THE CONDITIONS WHICH CAUSED ITS ENTRY
HAVE CHANGED OR THAT IT IS OTHERWISE IN THE PUBLIC
INTEREST TO DO SO.
335.
IT IS UNLAWFUL TO SELL ANY FRANCHISE IN THIS STATE
WHICH IS SUBJECT TO REGISTRATION UNDER THIS SUBTITLE
WITHOUT FIRST PROVIDING TO THE PROSPECTIVE FRANCHISEE, AT
LEAST 48 HOURS PRIOR TO THE EXECUTION BY THE PROSPECTIVE
FRANCHISEE OF ANY BINDING FRANCHISE OR OTHER AGREEMENT,
OR AT LEAST 48 HOURS PRIOR TO THE RECEIPT OF ANY
CONSIDERATION, WHICHEVER OCCURS FIRST, A COPY OF THE
PROSPECTUS, TOGETHER WITH A COPY OF ALL PROPOSED
AGREEMENTS RELATING TO THE SALE OF THE FRANCHISE.
336.
A FRANCHISE OFFERING IS REGISTERED FOR A PERIOD OF
ONE YEAR FROM THE EFFECTIVE DATE OF THE REGISTRATION,
UNLESS THE COMMISSIONER BY RULE OR REGULATION SPECIFIES A
DIFFERENT PERIOD.
337.
THE REGISTRATION MAY BE RENEWED FOR ADDITIONAL
PERIODS OF ONE YEAR EACH, UNLESS THE COMMISSIONER BY RULE
OR REGULATION SPECIFIES A DIFFERENT PERIOD, BY SUBMITTING
TO THE COMMISSIONER A REGISTRATION RENEWAL STATEMENT NO
LATER THAN 15 BUSINESS DAYS PRIOR TO THE EXPIRATION OF
THE REGISTRATION UNLESS THE PERIOD IS WAIVED BY ORDER OF
THE COMMISSIONER. IF A STOP ORDER OR OTHER ORDER IS NOT
IN EFFECT UNDER THIS SUBTITLE, REGISTRATION OF THE OFFER
OF THE FRANCHISES AUTOMATICALLY BECOMES RENEWED
EFFECTIVE AT 12 O'CLOCK NOON OF THE DATE ON WHICH THE
PRIOR REGISTRATION IS DUE TO EXPIRE, OR AT AN EARLIER
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