§ 23-19-6-3 — Violations; injunctions; other remedies

Indiana § 23-19-6-3

• Jurisdiction: Indiana
• Title 23: BUSINESS AND OTHER ASSOCIATIONS
• Art. 19: INDIANA UNIFORM SECURITIES ACT
• Ch. 6: Administration and Judicial Review

Text

(a) If the commissioner believes that a person
has engaged, is engaging, or is about to engage in an act, practice, or
course of business constituting a violation of this article or a rule
adopted or order issued under this article or that a person has, is, or is
about to engage in an act, practice, or course of business that materially
aids a violation of this article or a rule adopted or order issued under
this article, the commissioner may maintain an action in the circuit or
superior court in the county where the investigation or inquiry in
question is being conducted to enjoin the act, practice, or course of
business and to enforce compliance with this article or a rule adopted
or order issued under this article.
(b) In an action under this section and on a proper showing, the
court may:
(1) issue a permanent or temporary injunction, restraining order,
or declaratory judgment;
(2) order other appropriate or ancillary relief, which may include:
(A) an asset freeze, accounting, writ of attachment, writ of
general or specific execution, and appointment of a receiver or
conservator;
(B) ordering a receiver or conservator appointed under clause
(A) to take charge and control of a respondent's property,
including investment accounts and accounts in a depository
institution, rents, and profits; to collect debts; and to acquire
and dispose of property;
(C) imposing a civil penalty up to ten thousand dollars
($10,000) per violation and an order of rescission, restitution,
or disgorgement directed to a person that has engaged in an act,
practice, or course of business constituting a violation of this
article or the predecessor act or a rule adopted or order issued
under this article or the predecessor act; and
(D) ordering the payment of prejudgment and postjudgment
interest; or
(3) order such other relief as the court considers appropriate.
(c) The commissioner may not be required to post a bond in an
action or proceeding under this article.
(d) Penalties collected under this section shall be deposited in the
securities division enforcement account established under section 1 of
this chapter.

Legislative History

As added by P.L.27-2007, SEC.23.