§ 11-512. Summary postponement or suspension

   (a) Authority of Commissioner. -- The Commissioner by order summarily may postpone or suspend the effectiveness of the registration statement pending final determination of any proceeding under § 11-511 of this subtitle.

(b) Notification. -- On the entry of the order, the Commissioner promptly shall notify each person specified in § 11-513 of this subtitle:

   (1) That it has been entered;

   (2) The reasons for its entry; and

   (3) That within 15 days after the receipt of a written request the matter will be set down for hearing.

(c) Effect of order. --

   (1) If a hearing is not requested and one is not ordered by the Commissioner, the order will remain in effect until it is modified or vacated by the Commissioner.

   (2) If a hearing is requested or ordered, the Commissioner, after notice of and opportunity for hearing to each person specified in § 11-513 of this subtitle, may modify or vacate the order or extend it until final determination.

HISTORY: An. Code 1957, art. 32A, § 24; 1975, ch. 311, § 2.