§ 11-51-602 — Enforcement by injunction

(1) Whenever it appears to the
securities commissioner upon sufficient evidence satisfactory to the securities
commissioner that any person has engaged in or is about to engage in any act or
practice constituting a violation of any provision of this article or of any rule or
order under this article, the securities commissioner may apply to the district court
of the city and county of Denver to temporarily restrain or preliminarily or
permanently enjoin the act or practice in question and to enforce compliance with
this article or any rule or order under this article. If the action is against a broker-dealer, investment adviser, federal covered adviser, sales representative, or
investment adviser representative and the court finds that such person has
committed a violation of section 11-51-501, in addition to any other relief, the court
may enter an order imposing such conditions on such person as the court deems
appropriate. In any such action, the securities commissioner shall not be required to
plead or prove irreparable injury or the inadequacy of the remedy at law. Under no
circumstances shall the court require the securities commissioner to post a bond.

(2) The securities commissioner may include in any action authorized by
subsection (1) of this section, relating to any violation of section 11-51-301, 11-51-401,
or 11-51-501, a claim for damages under section 11-51-604 or restitution,
disgorgement, or other equitable relief on behalf of some or all of the persons
injured by the act or practice constituting the subject matter of the action, if the
applicable scienter standard of section 11-51-604 is met. No person shall be liable
for damages or for restitution, disgorgement, or other equitable relief in any action
authorized by subsection (1) of this section for a violation of section 11-51-301 due
solely to a failure to file the prescribed notification of exemption or to pay the
required exemption fee for an exemption under section 11-51-308 (1)(p).

Legislative History

Source: L. 90: Entire article R&RE, p. 730, � 1, effective July 1. L. 98: (1) amended, p. 563, � 17, effective January 1, 1999.