Title 10, Chapter 5A, Section 22
( 10-5A-22)
(a)(1) Upon a proper showing by the Commissioner that a person has
violated, or is about to violate, any provision of this chapter or
any rule or order of the Commissioner, a superior court of
appropriate jurisdiction may grant appropriate legal or equitable
remedies. (2) Upon a showing of a violation of this chapter or a rule or
order of the Commissioner, the court, in addition to traditional
legal and equitable remedies, including temporary restraining
orders, permanent or temporary prohibitory or mandatory
injunctions, and writs of prohibition or mandamus, may grant the
following special remedies: (A) Imposition of a civil penalty in an amount which may not
exceed $10,000.00 for any single violation or $100,000.00 for
multiple violations in a single proceeding or a series of
related proceedings; (B) Disgorgement; (C) Declaratory judgment; (D) Restitution to investors wishing restitution; and (E) Appointment of a receiver or conservator for the defendant
or the defendant's assets. (3) Appropriate remedies when the defendant is shown only about to
violate this chapter or a rule or order of the Commissioner shall
be limited to: (A) A temporary restraining order; (B) A temporary or permanent injunction; (C) A writ of prohibition or mandamus; or (D) An order appointing a receiver or conservator for the
defendant or the defendant's assets. (b) The court shall not require the Commissioner to post a bond in
any official action under this chapter. (c)(1) Upon a proper showing by the commissioner or securities or
commodity agency of another state that a person other than a
government or governmental agency or instrumentality has violated,
or is about to violate, any provision of the commodity act of that
state or any rule or order of the commissioner or securities or
commodity agency of that state, a superior court of appropriate
jurisdiction may grant appropriate legal and equitable remedies. (2) Upon a showing of a violation of the securities or commodity
act of a foreign state or a rule or order of the commissioner or
securities or commodity agency of the foreign state, the court, in
addition to traditional legal or equitable remedies including
temporary restraining orders, permanent or temporary prohibitory
or mandatory injunctions, and writs of prohibition or mandamus,
may grant the following special remedies:
(A) Disgorgement; and (B) Appointment of a receiver, conservator, or ancillary
receiver or conservator for the defendant or the defendant's
assets located in this state. (3) Appropriate remedies when the defendant is shown only about to
violate the securities or commodity act of the foreign state or a
rule or order of the commissioner or securities or commodity
agency of the foreign state shall be limited to: (A) A temporary restraining order; (B) A temporary or permanent injunction; (C) A writ of prohibition or mandamus; or (D) An order appointing a receiver, conservator, or ancillary
receiver or conservator for the defendant or the defendant's
assets located in this state. |