§ 11-53-203 — Power of court to grant relief

(1) Upon a proper showing by the
commissioner that a person has violated any provision of this article or any rule or
order under this article, the court may grant appropriate legal or equitable
remedies including a temporary restraining order, a preliminary and permanent
prohibitory or mandatory injunction, and writ or prohibition or mandamus. In
addition, the court may grant the following special remedies:

(a) Imposition of a civil penalty in an amount which may not exceed ten
thousand dollars for any single violation or one hundred thousand dollars 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.

(2) In any such action, the 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 commissioner to post a bond.

Legislative History

Source: L. 89: Entire article R&RE, p. 638, � 1, effective July 1.