.03 Petition for Adoption of Regulations.

A. Petition. An interested person may petition the Commissioner to adopt, amend, or repeal a regulation within the Commissioner's authority under the:

(1) Maryland Securities Act;

(2) Maryland Franchise Registration and Disclosure Law; or

(3) Maryland Business Opportunities Sales Act.

B. Form of Petition. The petition shall be submitted in writing and may be in the form of a letter addressed to the Commissioner.

C. Content of Petition. The petition shall state, clearly and concisely, the:

(1) Language of the proposed regulation;

(2) Reasons why the petitioner believes the Commissioner should adopt the proposed regulation;

(3) Nature of the petitioner's interest in the proposed regulation; and

(4) Authority of the Commissioner to take the action requested by the petitioner.

D. Disposition. The Commissioner shall consider the petition and shall notify the petitioner within 60 days of the Commissioner's disposition of the petition.