N.D. Cent. Code § 10-04-06.1
This is the official text of N.D. Cent. Code § 10-04-06.1, part of North Dakota’s Cent. Code — part of the compiled statutory law of North Dakota, published by the state as "Cent. Code." Browse the sections below, each linked to its official government source.
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10-04-06.1. Suspension and revocation of exemptions
Official statutory text
10-04-06.1. Suspension and revocation of exemptions
The commissioner may by order or regulation suspend or revoke any exemption under
section 10-04-05 or 10-04-06 with respect to any specific security or transaction or may require
with respect to any specific security or transaction, prior to the making of any offers or sales,
such information with respect thereto or the security to be offered or sold thereunder or such
reports after the making of such sales, as the commissioner may deem necessary to enable the
commissioner to determine whether or not to suspend or revoke the exemption. No such order
may be entered without appropriate prior notice to all interested parties, opportunity for hearing,
and written findings of fact and conclusions of law, except that the commissioner may by order
summarily suspend any of the specified exemptions pending final determination of any
proceeding under this section. Upon the entry of a summary order, the commissioner shall
promptly notify all interested parties that it has been entered and the reasons therefor and that
within fifteen days of the receipt of a written request the matter will be set down for hearing. If no
hearing is requested and none is ordered by the commissioner, the order will remain in effect
until it is modified or vacated by the commissioner. If a hearing is requested or ordered, the
commissioner, after notice of and opportunity for a hearing to all interested parties, may modify
or vacate the order or extend it until final determination.
The commissioner may by order or regulation suspend or revoke any exemption under
section 10-04-05 or 10-04-06 with respect to any specific security or transaction or may require
with respect to any specific security or transaction, prior to the making of any offers or sales,
such information with respect thereto or the security to be offered or sold thereunder or such
reports after the making of such sales, as the commissioner may deem necessary to enable the
commissioner to determine whether or not to suspend or revoke the exemption. No such order
may be entered without appropriate prior notice to all interested parties, opportunity for hearing,
and written findings of fact and conclusions of law, except that the commissioner may by order
summarily suspend any of the specified exemptions pending final determination of any
proceeding under this section. Upon the entry of a summary order, the commissioner shall
promptly notify all interested parties that it has been entered and the reasons therefor and that
within fifteen days of the receipt of a written request the matter will be set down for hearing. If no
hearing is requested and none is ordered by the commissioner, the order will remain in effect
until it is modified or vacated by the commissioner. If a hearing is requested or ordered, the
commissioner, after notice of and opportunity for a hearing to all interested parties, may modify
or vacate the order or extend it until final determination.
Status: in_force · Read it on the official government site
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