(a) By order, the Commissioner may cancel a registration or application, if the Commissioner finds that the applicant or registrant:
(1) Has abandoned the application;
(2) Is no longer in existence;
(3) Has ceased to do business as a broker-dealer, agent, investment adviser, or investment adviser representative;
(4) Is subject to an adjudication of mental incompetence or the control of a committee, conservator, or guardian; or
(5) Cannot be located after reasonable search.
(b) The Commissioner may deem abandoned a notice filing that a federal covered adviser has filed under § 11-405 of this subtitle, if the Commissioner finds that the federal covered adviser:
(1) Has abandoned the notice filing;
(2) Is no longer in existence;
(3) Has ceased to do business as a federal covered adviser;
(4) Is subject to adjudication of mental incompetence or to the control of a committee, conservator, or guardian; or
(5) Cannot be located after a reasonable search.
Structure Maryland Statutes
Title 11 - Maryland Securities Act
Section 11-401 - Transaction of Business by Unregistered Person Unlawful
Section 11-402 - Agent Required to Be Registered
Section 11-405 - Application; Effective Date of Registration
Section 11-406 - Renewal Registration
Section 11-409 - Capital and Financial Requirements
Section 11-411 - Post-Registration Provisions
Section 11-412 - Denial, Revocation, or Suspension of Registration
Section 11-413 - Summary Postponement or Suspension
Section 11-414 - Cancellation of Registration or Application; Abandonment of Notice Filing
Section 11-415 - Withdrawal From Registration