[§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]