{"data":{"id":"us-me/32-m.r.s.-16409","jurisdiction":"us-me","citation":"32 M.R.S. §16409","heading":"Withdrawal or nonrenewal of licensing of broker-dealer, agent, investment adviser and investment adviser representative","body":"Withdrawal of licensing by a broker-dealer, agent, investment adviser or investment adviser representative becomes effective 60 days after the filing of the application to withdraw or within any shorter period authorized by the administrator, unless a revocation or suspension proceeding is pending when the application is filed. If a proceeding is pending, the administrator shall make a determination with respect to the withdrawal application as part of the proceeding. The administrator may institute a revocation or suspension proceeding under section 16412 within one year after the withdrawal became effective automatically or within one year of a license's becoming ineffective due to nonrenewal under section 16406 and issue a revocation or suspension order as of the last date on which licensing was effective.","path":["TITLE 32: PROFESSIONS AND OCCUPATIONS","CHAPTER 135: MAINE UNIFORM SECURITIES ACT","SUBCHAPTER 4: BROKER-DEALERS, AGENTS, INVESTMENT ADVISERS, INVESTMENT ADVISER REPRESENTATIVES AND FEDERAL COVERED INVESTMENT ADVISERS"],"source_url":"https://legislature.maine.gov/statutes/32/title32sec16409.html","current_through":"October 1, 2025","vintage":"","retrieved_at":"2026-09-04T15:12:37Z","sha256":"192ba22335bf327f8a7b8f571e95cf15ae81032767cc43ee7f66b77bd214ca77","source_id":"us-me","stale":false,"prev":"us-me/32-m.r.s.-16408","next":"us-me/32-m.r.s.-16410"},"notice":"GroundRules: Original legal text. Not legal advice."}