§ 10-212
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/md/insurance/10-212A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
§10–212.
(a)Subject to the hearing provisions of Title 2 of this article, the Commissioner may suspend or revoke a license if the licensee:
(1)has violated this article;
(2)has violated any law while acting as an adviser;
(3)has made a material misstatement in the application for the license;
(4)has been guilty of fraudulent or dishonest practices; or
(5)has demonstrated incompetency or untrustworthiness to act as an adviser.
(1)Any licensee or any person aggrieved may file with the Commissioner a verified complaint that states facts that show sufficient grounds to suspend or revoke a license.
(2)On the filing of a complaint, the Commissioner, after notice and hearing, shall determine whether to suspend or revoke the license.
(c)An adviser whose license has been revoked may not obtain another license or renew a license for at least 1 year after:
(1)the date of revocation, if there is no judicial review; or
(2)the final determination in the judicial proceeding confirming the revocation, if there is judicial review.