As Amended
SEC. 75-71-329. Withdrawal from registration; effect on revocation or suspension proceedings.
Withdrawal from registration as a broker-dealer, agent, investment adviser or investment adviser representative becomes effective thirty (30) days after receipt of an application to withdraw or within such shorter period of time as the Secretary of State may determine, unless a revocation or suspension proceeding is pending when the application is filed or a proceeding to revoke or suspend or to impose conditions upon the withdrawal is instituted within thirty (30) days after the application is filed. If a proceeding is pending or instituted, withdrawal becomes effective at such time and upon such conditions as the Secretary of State by order determines. If no proceeding is pending or instituted and withdrawal automatically becomes effective, the Secretary of State may, nevertheless, institute a revocation or suspension proceeding under Section 75-71-321 (a)(2)(B) within one (1) year after withdrawal became effective and enter a revocation or suspension order as of the last date on which registration was effective.
SOURCES: Laws, 1981, ch. 521, Sec. 204; 1990, ch. 352, Sec. 11, eff from and after passage (approved March 12, 1990).