17-12a409.   Withdrawal of registration ofbroker-dealer, agent, investment adviser and investment adviserrepresentative.Withdrawal of registration by a broker-dealer,agent, investment adviser, or investment adviser representativebecomes effective 60 days after the filing of the application towithdraw or within any shorter period as provided by rule adoptedor order issued under this act unless a revocation or suspensionproceeding is pending when the application is filed. If aproceeding is pending, withdrawal becomes effective when and uponsuch conditions as required by rule adopted or order issued underthis act. The administrator may institute a revocation orsuspension proceeding underK.S.A. 17-12a412, and amendmentsthereto, within one yearafter the withdrawal became effective automaticallyand issue a revocation or suspension order as of the last date onwhich registration was effective if a proceeding is not pending.

      History:   L. 2004, ch. 154, § 26; July 1, 2005.