West Virginia Code of State Rules › Agency 111 - Securities Commission › Title 111 - LEGISLATIVE RULES SECURITIES COMMISSIONER › Series 111-01 - Security Rules And Regulations › Section 111-1-10 - Rules of practice and procedure

Current through Register Vol. XLI, No. 28, July 12, 2024
The rules included in this section (Sections 10 through 10.8
				  of these rules) are procedural rules and are adopted pursuant to the provisions
				  of section four hundred twelve, article four, chapter thirty-two of the West
				  Virginia Code, as amended, and they shall govern the practice before the
				  Securities Commissioner, in accordance with the provisions of chapter
				  twenty-nine-a and section four hundred twelve, article four, chapter thirty-two
				  of the West Virginia Code, as amended. These rules do not apply to
				  investigations, except where made specifically applicable.
10.1. Business hours. -- The general office
				of the Commissioner shall be open from nine a.m. to five p.m. each day, except
				Saturdays, Sundays and legal holidays.
10.2. Communications. -- All communications,
				including correspondence, motions and pleadings shall be addressed to and be
				filed with the State Auditor's Office, Securities Division, West-118, State
				Capitol Building, Charleston, West Virginia 25305.
10.3. Date of receipt. -- All communications,
				including correspondence, motions and pleadings shall be deemed to be filed or
				received on the date on which they are actually received by the Division, party
				or other person.
10.4. Computation
				of time. -- Computation of any period of time referred to in the rules shall
				begin with the first day following that on which the act which initiates such
				period of time occurs. When the last day of the period so computed is a day on
				which the office of the Commissioner is closed, the period shall run until the
				end of the following business day. When such period of time with the
				intervening Saturdays, Sundays and legal holidays counted is five (5) days or
				less, the said Saturdays, Sundays and legal holidays shall be excluded from the
				computation; otherwise such days shall be included in the
				computation.
10.5. Filing papers.
				-- Communications addressed to the Commissioner, and petitions, applications,
				answers and other pleadings, all exhibits, depositions, transcripts, orders and
				other papers or documents shall be filed in the general offices of the
				Commissioner, and shall be stamped showing the date of the receipt
				thereof.
10.6. Notice of
				proceedings; hearings.
(1) Notice of
				proceedings; order of proceedings. -- Whenever an order for proceeding is
				issued by the Commissioner appropriate notice thereof shall be given by the
				Deputy Commissioner or other duly designated employee of the Commissioner to
				each party to the proceeding, and any other person entitled to notice, or to
				the person designated by any such party or person as being authorized to
				receive on his behalf notice issued by the Commissioner. The parties or persons
				entitled to notice shall be timely informed of the time, date, place and nature
				of any hearing and the legal authority and jurisdiction under which the hearing
				is to be held, and shall be furnished a short and simple statement of the
				matters of fact and law to be considered and determined. In proceedings in
				which an answer is directed, the order for the proceeding shall be set for the
				action proposed and the factual and legal basis alleged therefor, in such
				detail as will permit a specific response thereto.
(2) Notice of hearing; service of notice. --
				The time and place for any hearing in a proceeding shall be fixed with due
				regard for the public interests and the convenience and necessity of the
				parties or their representatives. Each party or person entitled to notice shall
				be given notice of hearing at least twenty-one (21) days prior to the hearing,
				and such notice may be given by registered mail, or certified mail, addressed
				to his last known business or residence address or to the address of his agent
				for service.
(3) Effect of failure
				to appear. -- If any person who is named in an order for proceeding or any
				stop-order, revocation order, suspension or termination order, or the like as a
				person against whom finding may be made or sanctions imposed in the proceeding
				does not file a notice of appearance in the proceeding within fifteen (15) days
				after service upon him of the order for proceeding (unless a different time
				period is specified in the order), or if he fails to appear at a hearing of
				which he has been duly notified, such person shall be deemed in default and the
				proceeding or order may be determined against him upon consideration of the
				order for proceeding, the allegations of which may be deemed to be true. For
				purpose of this subsection, an answer shall constitute a notice of appearance.