Section 27Sec./Art. 27

Suspension of License to Sell/Cease and Desist Order.1awp++i1 The Commission may, in its discretion or upon notice and hearing immediately suspend the owners license to sell and issue a Cease and Desist Order pending investigation and hearing of the case for the following reasons:

a. Upon verified complaint filed by a buyer of a subdivision statement lot/house or any interested party;

b. In its opinion, any information in the registration statement filed by the owner/dealer is or has become misleading, incorrect, inadequate or incomplete or the sale or offering for sale of the project may work or tend to work a fraud upon prospective buyers;

c. When it appears to the Commission that the owner/dealer is engaged in any act or practice which constitute or shall constitute a violation of the provisions of these Rules.

The suspension order/cease and desist order may be lifted if, after notice and hearing, the Commission is convinced that any deficiency in the sworn registration statement has been corrected or supplemented, or that the sale to the public of the subdivision project shall neither be fraudulent nor result in fraud. It shall also be lifted upon dismissal of the complaint.

Until the final entry of an order of suspension, the suspension of the right to sell the project, through binding upon all persons notified thereof, shall be deemed confidential unless it shall appear that the order of suspension has in the meantime been violated.