A.R.S. § 44-1922: Revocation of registration by qualification or description; grounds

Except for securities registered by qualification pursuant to section 44-1901, the commission may revoke the registration of any securities registered under this chapter if, after a hearing or notice and opportunity for hearing as provided by article 11 of this chapter, it finds that:

1. Any of the grounds for denial specified in section 44-1921 exists.

2. Securities registered by description are not entitled to registration by description.