47-31B-409 Withdrawal of registration of broker-dealer, agent, investment adviser, and investment adv...
Withdrawal of registration of broker-dealer, agent, investment adviser, and
investment adviser representative.
Withdrawal of registration by a broker-dealer, agent, investment
adviser, or investment adviser representative becomes effective sixty days after the filing of the
application to withdraw or within any shorter period as provided by rule adopted or order issued
under this chapter unless a revocation or suspension proceeding is pending when the application is
filed. If a proceeding is pending, withdrawal becomes effective when and upon such conditions as
required by rule adopted or order issued under this chapter. The director may institute a revocation
or suspension proceeding under § 47-31B-412 within one year after the withdrawal became effective
automatically and issue a revocation or suspension order as of the last date on which registration was
effective if a proceeding is not pending.