[§485A-409] Withdrawal of registration of broker-dealer, agent, investment adviser, and investment adviser representative. The 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 revocation or suspension proceeding is pending, withdrawal becomes effective when and upon such conditions as required by rule adopted or order issued under this chapter. The commissioner may institute a revocation or suspension proceeding under section 485A-412 within one year after the withdrawal became effective and issue a revocation or suspension order as of the last date on which registration was effective. [L 2006, c 229, pt of §1]
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