Maine Revised Statutes Title 32 Sec. 11310 – Procedure for entry of an order
Current as of: 2023 | Check for updates
|
Other versions
1. Notice of intent, summary order. The administrator shall commence an administrative proceeding under this chapter, by entering either a notice of intent to do a contemplated act or a summary order. The notice of intent or summary order may be entered without notice, without opportunity for hearing and need not be supported by findings of fact or conclusions of law, but must be in writing.
[PL 1989, c. 542, §83 (AMD).]
Terms Used In Maine Revised Statutes Title 32 Sec. 11310
- Administrator: means the Securities Administrator. See Maine Revised Statutes Title 32 Sec. 11201
- in writing: include printing and other modes of making legible words. See Maine Revised Statutes Title 1 Sec. 72
- Person: means an individual, a corporation, a partnership, an association, a joint-stock company, a trust where the interests of the beneficiaries are evidenced by a security, an unincorporated organization, a government or a political subdivision of a government, but does not include, a contract market designated by the Commodity Futures Trading Commission or any clearinghouse of the Commodity Futures Trading Commission or a national securities exchange registered with the United States Securities and Exchange Commission, or any employee, officer or director of such contract market, clearinghouse or exchange acting solely in that capacity. See Maine Revised Statutes Title 32 Sec. 11201
2. Notification of parties. Upon entry of a notice of intent or summary order, the administrator shall promptly notify, in writing, all interested parties that the notice or summary order has been entered and the reasons for that notice or order. If the proceeding is pursuant to a notice of intent, the administrator shall notify all interested parties of the date, time and place set for the hearing in the notice or, if no hearing has been scheduled, the administrator shall notify all interested parties that they have 30 calendar days from the entry of the notice of intent to file a written request with the administrator for a hearing. If the proceeding is pursuant to a summary order, the administrator shall notify all interested parties that they have 30 calendar days from the entry of the order to file a written request for a hearing on the matter with the administrator and that the hearing will be scheduled to commence within 15 calendar days after the receipt of the written request.
Notwithstanding anything in this subsection, the administrator may give notice of the entry of the notice of intent or summary order to such parties as the administrator may determine to be necessary or appropriate.
[PL 1989, c. 542, §83 (AMD).]
3. Hearing. If the proceeding is pursuant to a summary order, the administrator, whether or not a written request for a hearing is received from any interested party, may set the matter down for hearing on the administrator’s own motion.
[PL 1989, c. 542, §83 (AMD).]
4. Summary order final. A summary order issued against any person becomes a final order:
A. Thirty days after the administrator mails notice to the interested parties of the right to request a hearing if they fail to request a hearing and none is scheduled by the administrator; or [PL 1989, c. 542, §83 (AMD).]
B. On the date of the hearing, if the person requesting the hearing fails to appear. [PL 1985, c. 643 (NEW).]
[PL 1989, c. 542, §83 (AMD).]
5. Action pending final determination. If a hearing is requested or ordered, the administrator, after notice of and opportunity for hearing to all interested persons, may modify or vacate the order or extend it until final determination.
[PL 1989, c. 542, §83 (AMD).]
6. Final order. No final order or order after hearing may be returned without:
A. Appropriate notice to all interested persons; [PL 1985, c. 643 (NEW).]
B. Opportunity for hearing by all interested persons; and [PL 1985, c. 643 (NEW).]
C. Entry of written findings of fact and conclusions of law. [PL 1985, c. 643 (NEW).]
[PL 1985, c. 643 (NEW).]
SECTION HISTORY
PL 1985, c. 643 (NEW). PL 1989, c. 542, §83 (AMD).