District of Columbia § 31-5602.09 Withdrawal.

District of Columbia Statutes

§ 31-5602.09 — Withdrawal.

District of Columbia § 31-5602.09

Title 31Insurance and Securities.

Ch. 56Securities.

Subch. IIBroker-Dealers, Agents, Investment Advisers and Investment Adviser Representatives.

This text of District of Columbia § 31-5602.09 (Withdrawal.) is published on Counsel Stack Legal Research, covering District of Columbia primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

D.C. Code § 31-5602.09 (2026).

Text

(a)Withdrawal from licensing as a broker-dealer, agent, investment adviser, or investment adviser representative shall be effective 30 days after the receipt by the Commissioner of an application to withdraw or within any shorter period the Commissioner, by order, determines, unless:

(1)A revocation or suspension proceeding is pending when the withdrawal application is filed; or

(2)A proceeding to revoke or suspend or to impose conditions upon the withdrawal is instituted within 30 days after the withdrawal application is filed.

(b)If a proceeding is pending or instituted, the withdrawal shall be effective at the time and upon the conditions that the Commissioner, by order, determines. If no proceeding is pending or instituted and the withdrawal becomes effective, the Commission

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(a) Withdrawal from licensing as a broker-dealer, agent, investment adviser, or investment adviser representative shall be effective 30 days after the receipt by the Commissioner of an application to withdraw or within any shorter period the Commissioner, by order, determines, unless:

(1) A revocation or suspension proceeding is pending when the withdrawal application is filed; or

(2) A proceeding to revoke or suspend or to impose conditions upon the withdrawal is instituted within 30 days after the withdrawal application is filed.

(b) If a proceeding is pending or instituted, the withdrawal shall be effective at the time and upon the conditions that the Commissioner, by order, determines. If no proceeding is pending or instituted and the withdrawal becomes effective, the Commissioner may institute a proceeding under § 31-5602.07 within one year after the withdrawal became effective and enter an order as of the last date on which the license was effective.