(a) By order, the Commissioner may cancel a registration or application, if the Commissioner finds that the applicant or registrant: (1) Has abandoned the application; (2) Is no longer in existence; (3) Has ceased to do business as a broker-dealer, agent, investment adviser, or investment adviser representative; (4) Is subject to an adjudication of mental incompetence or the control of a committee, conservator, or guardian; or (5) Cannot be located after reasonable search. (b) The Commissioner may deem abandoned a notice filing that a federal covered adviser has filed under § 11-405 of this subtitle, if the Commissioner finds that the federal covered adviser: (1) Has abandoned the notice filing; (2) Is no longer in existence; (3) Has ceased to do business as a federal covered adviser; (4) Is subject to adjudication of mental incompetence or to the control of a committee, conservator, or guardian; or (5) Cannot be located after a reasonable search.
Maryland Legal Code