Ch. 36

1995 LAWS OF MARYLAND

Defined terms: "Adviser" § 10-201
"Commissioner" § 1-101
"License" § 10-201
"State" § 1-101

10-212. SUSPENSIONS AND REVOCATIONS.

(A)     IN GENERAL.

SUBJECT TO THE HEARING PROVISIONS OF TITLE 2 OF THIS ARTICLE, THE
COMMISSIONER MAY SUSPEND OR REVOKE A LICENSE IF THE LICENSEE:

(1)      HAS VIOLATED THIS ARTICLE;

(2)      HAS VIOLATED ANY LAW WHILE ACTING AS AN ADVISER;

(3)      HAS MADE A MATERIAL MISSTATEMENT IN THE APPLICATION FOR
THE LICENSE;

(4)      HAS BEEN GUILTY OF FRAUDULENT OR DISHONEST PRACTICES; OR

(5)      HAS DEMONSTRATED INCOMPETENCY OR UNTRUSTWORTHINESS
TO ACT AS AN ADVISER.

(B)     FILING COMPLAINT.

(1)      ANY LICENSEE OR ANY PERSON AGGRIEVED MAY FILE WITH THE
COMMISSIONER A VERIFIED COMPLAINT THAT STATES FACTS THAT SHOW
SUFFICIENT GROUNDS TO SUSPEND OR REVOKE A LICENSE.

(2)      ON THE FILING OF A COMPLAINT, THE COMMISSIONER, AFTER
NOTICE AND HEARING, SHALL DETERMINE WHETHER TO SUSPEND OR REVOKE THE
LICENSE.

(C)     EFFECT OF REVOCATION.

AN ADVISER WHOSE LICENSE HAS BEEN REVOKED MAY NOT OBTAIN
ANOTHER LICENSE OR RENEW A LICENSE FOR AT LEAST 1 YEAR AFTER:

(1)      THE DATE OF REVOCATION, IF THERE IS NO JUDICIAL REVIEW; OR

(2)      THE FINAL DETERMINATION IN THE JUDICIAL PROCEEDING
CONFIRMING THE REVOCATION, IF THERE IS JUDICIAL REVIEW.

REVISOR'S NOTE: This section is new language derived without substantive
change from former Art. 48A, § 182(1) and (m).

Defined terms: "Adviser" § 10-201
"Commissioner" § 1-101
"License" § 10-201
"Person" § 1-101

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