Section 22Sec./Art. 22

Failure to notify in case of disassociation. If the license fails to notify the Board within the ten-day period in accordance with the preceding section, his license shall be ipso facto suspended.

Such license may be restored, however, upon the filing of an affidavit, executed by the licensee or the duly authorized responsible managing officer of the licentiate firm, with the Board, to the effect that the person originally appearing for examination on behalf of the licensee has been replaced by another individual, that this individual has been qualified by examination, that he can comply with the provision of this section and that he has not had his license suspended or revoked or that he has not been connected with a licensee whose license has been suspended or revoke due to the lack of a good character required of an applicant for a license.