Sec. 47-94. Grounds for refusal of permit. Appeal, hearing.
Sec. 47-94. Grounds for refusal of permit. Appeal, hearing. (a) The commission
may refuse, suspend or revoke any permit issued under section 47-92 if it finds that the
proposed plan of business of the issuer, the securities proposed to be issued or the method
to be used in issuing them will tend to work a fraud upon the purchaser thereof.
(b) Any applicant objecting to the denial of a permit or to any condition therein
may, within ten days after receipt of such denial or order, file a written request for a
hearing. Said hearing shall be held within the time period and in accordance with the
procedures set forth for hearings contained in section 20-321.
(P.A. 73-593, S. 7, 17, 35.)