(a) 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) 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) (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.
Structure Maryland Statutes
Title 11 - Maryland Securities Act
Subtitle 5 - Registration of Securities
Section 11-501 - Registration Requirement
Section 11-502 - Registration by Notification
Section 11-503 - Registration by Coordination
Section 11-503.1 - Filing of Documents and Fees Required; Stop Orders
Section 11-504 - Registration by Qualification
Section 11-505 - Filing of Registration Statement
Section 11-507 - Matters Required to Be Specified in Registration Statement
Section 11-509 - Reports by Person Filing Registration Statement
Section 11-510 - Amendment of Registration Statement to Increase Securities Proposed to Be Offered
Section 11-510.1 - Registration of Indefinite Amount of Securities
Section 11-511 - Denial, Suspension, and Revocation of Registration
Section 11-512 - Summary Postponement or Suspension