Connecticut General Statutes Title 47. Land and Land Titles § 47-94. Grounds for refusal of permit.  Appeal, hearing

(a) The commission may refuse, suspend or revoke any permit issued under section 47-92 if it finds that the proposed plan of business of the issuer, the securities proposed to be issued or the method to be used in issuing them will tend to work a fraud upon the purchaser thereof.

(b) Any applicant objecting to the denial of a permit or to any condition therein may, within ten days after receipt of such denial or order, file a written request for a hearing.  Said hearing shall be held within the time period and in accordance with the procedures set forth for hearings contained in section 20-321.