PARRIS N. GLENDENING, Governor                             S.B. 380

(6)     THERE HAS BEEN A FAILURE TO FILE ANY DOCUMENTS OR
INFORMATION REQUIRED BY § 14-113.1; OR

(7)     THE SELLER'S LITERATURE OR ADVERTISING IS MISLEADING,
INCORRECT, INCOMPLETE, OR DECEPTIVE.

(B)     (1) THE COMMISSIONER MAY ENTER A DENIAL ORDER IF THE
COMMISSIONER FINDS THAT THE ORDER IS IN THE PUBLIC INTEREST AND THE
SELLER HAS FAILED TO PAY THE PROPER REGISTRATION FEE.

(2) THE COMMISSIONER SHALL VACATE ANY SUCH ORDER WHEN THE
DEFICIENCY HAS BEEN CORRECTED.

(C)     THE COMMISSIONER MAY NOT:

(1)     INSTITUTE A PROCEEDING AGAINST AN EFFECTIVE REGISTRATION
UNDER SUBSECTION (A)(3) OF THIS SECTION MORE THAN 1 YEAR AFTER THE DATE
OF THE ORDER OR INJUNCTION RELIED ON; OR

(2)     PASS AN ORDER UNDER SUBSECTION (A)(3) OF THIS SECTION ON
THE BASIS OF AN ORDER OR INJUNCTION ENTERED UNDER ANY OTHER STATE ACT
UNLESS THAT ORDER OR INJUNCTION WAS BASED ON FACTS WHICH WOULD
CURRENTLY CONSTITUTE GROUNDS FOR AN ORDER UNDER THIS SECTION.

(D)    BY ORDER, THE COMMISSIONER SUMMARILY MAY POSTPONE OR
SUSPEND THE EFFECTIVENESS OF THE REGISTRATION PENDING FINAL
DETERMINATION OF ANY PROCEEDING UNDER THIS SECTION.

(E)     UPON THE ENTRY OF THE ORDER, THE COMMISSIONER SHALL PROMPTLY
NOTIFY THE SELLER:

(1)     THAT THE ORDER HAS BEEN ENTERED;

(2)     THE BASIS FOR THE ORDER; AND

(3)     THAT WITHIN 15 DAYS AFTER THE DAY ON WHICH THE
COMMISSIONER RECEIVES A WRITTEN REQUEST BY THE SELLER, THE MATTER WILL
BE SET DOWN FOR A HEARING.

(F)     IF THE SELLER FAILS TO REQUEST A HEARING AND THE COMMISSIONER
FAILS TO ORDER A HEARING, THE ORDER SHALL REMAIN IN EFFECT UNTIL THE
COMMISSIONER MODIFIES OR VACATES THE ORDER.

(G)    IF THE SELLER REQUESTS A HEARING OR THE COMMISSIONER ORDERS A
HEARING, THE COMMISSIONER, AFTER PROVIDING NOTICE OF AN OPPORTUNITY
FOR HEARING TO THE SELLER, MAY MODIFY OR VACATE THE ORDER OR EXTEND IT
UNTIL FINAL DETERMINATION.

(H) THE COMMISSIONER MAY NOT ENTER AN ORDER DESCRIBED UNDER
SUBSECTION (B) OF THIS SECTION WITHOUT FIRST PROVIDING TO THE SELLER
NOTICE IN ACCORDANCE WITH SUBSECTION (E) OF THIS SECTION, AN OPPORTUNITY
FOR HEARING, AND WRITTEN FINDINGS OF FACT AND CONCLUSIONS OF LAW.

- 4013 -