§261 Basis for Issuance of Summary Order Denying or Revoking Exemption Pursuant to Section 7309(c)

The Securities Division may make application for, and an Administrative Hearing Officer may issue, a summary order denying or revoking any exemption claimed under Sections 7309(a)(9), (a)(11), or (b)(1)-(13) of the Act, whenever it appears that such exemption is inapplicable, either generally or with respect to a specific security or transaction.

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