# Corporations and Associations (GCA)

## Title 11. Maryland Securities Act

### Subtitle 4. Requirements of Broker-Dealers, Agents, Investment Advisers, Investment Adviser Representatives, and Federal Covered Advisers

#### Section 11-416

An order may not be entered under any part of Sec.Sec. 11-412 through 11-415 of this subtitle, except Sec. 11-413(a), without:

(1) Appropriate prior notice to the applicant or registrant, or person submitting a notice filing, as well as the employer or prospective employer if the applicant or registrant is an agent or investment adviser representative;

(2) Opportunity for hearing; and

(3) Written findings of fact and conclusions of law.

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Md. Code Ann., Corps. & Ass'ns (as displayed at mgaleg.maryland.gov, October 16, 2026)