Upon the entry of an order under RCW 21.20.110, the director shall promptly notify the applicant or registrant, as well as the employer or prospective employer if the applicant or registrant is a salesperson or investment adviser representative, that it has been entered and of the reasons therefor and that if requested by the applicant or registrant within twenty days after the receipt of the director’s notification the matter will be promptly set down for hearing. If no hearing is requested and none is ordered by the director, the order will remain in effect until it is modified or vacated by the director. If a hearing is requested or ordered, the director, after notice of and opportunity for hearing, may modify or vacate the order or extend it until final determination. No order may be entered under RCW 21.20.110 denying or revoking registration without appropriate prior notice to the applicant or registrant (as well as the employer or prospective employer if the applicant or registrant is a salesperson or an investment adviser representative), opportunity for hearing, and written findings of fact and conclusions of law.

NOTES:

FindingsConstruction1994 c 256: See RCW 43.320.007.

Ask a legal question, get an answer ASAP!
Click here to chat with a lawyer about your rights.

Terms Used In Washington Code 21.20.120

  • Director: means the director of financial institutions of this state. See Washington Code 21.20.005
  • Investment adviser: means any person who, for compensation, engages in the business of advising others, either directly or through publications or writings, as to the value of securities or as to the advisability of investing in, purchasing, or selling securities, or who, for compensation and as a part of a regular business, issues or promulgates analyses or reports concerning securities. See Washington Code 21.20.005
  • Salesperson: means any individual other than a broker-dealer who represents a broker-dealer or issuer in effecting or attempting to effect sales of securities. See Washington Code 21.20.005