Section 26-B105. INCOMPLETE OR DEFICIENT APPLICATIONS

 

105.1An application for license or a renewal as an agent or broker-dealer shall be deemed incomplete for purposes of Section 203 of the Act (D.C. Register at 47 DCR 7846) if it omits required documents or material facts.

 

105.2If the Director finds that a registrant's application contains a misrepresentation or omits a document or material fact required, he or she shall notify the applicant of the deficiency by letter.

 

105.3A deficiency letter shall require the applicant to perfect the application within twenty-one (21) days after issuance of the deficiency letter.

 

105.4A deficiency letter shall postpone the effectiveness of the applicant's license application for thirty (30) days after the applicant perfects the application.

 

105.5The Director may accelerate the effective date of a license once the Director determines that the application is complete and that all applicable requirements are satisfied.

 

source

Final Rulemaking published at 40 DCR 6732 (September 24, 1993); as amended by Final Rulemaking published at 47 DCR 1221 (February 25, 2000); Emergency Rulemaking published at 48 DCR 1987 (March 2, 2001) [EXPIRED]; as amended by Final Rulemaking published at 48 DCR 4106 (May 11, 2001).