Indiana § 23-2-3.1-10 Cease and desist orders; injunctions; subpoenas; production of books
and papers

Indiana Statutes

§ 23-2-3.1-10 — Cease and desist orders; injunctions; subpoenas; production of books and papers

Indiana § 23-2-3.1-10

Title 23BUSINESS AND OTHER ASSOCIATIONS

Art. 2SECURITIES AND FRANCHISES

Ch. 3.1Takeover Offers

This text of Indiana § 23-2-3.1-10 (Cease and desist orders; injunctions; subpoenas; production of books and papers) is published on Counsel Stack Legal Research, covering Indiana primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Ind. Code § 23-2-3.1-10 (2026).

Text

(a)Whenever it appears to the commissioner that any person has engaged or is about to engage in any act or practice constituting a violation of any provision of this chapter or any regulation or order adopted under this chapter, the commissioner may investigate and issue orders and notices, including ex parte cease and desist orders without notice. In addition to all other remedies, he may bring an action in any circuit or superior court in the name and on behalf of the state of Indiana against any person or persons participating in or about to participate in a violation of this chapter to enjoin those persons from continuing or doing any act in violation of this chapter or to enforce compliance with this chapter. In any court proceedings, the commissioner may apply for and on due showing

Free access — add to your briefcase to read the full text and ask questions with AI

(a) Whenever it appears to the
commissioner that any person has engaged or is about to engage in any
act or practice constituting a violation of any provision of this chapter
or any regulation or order adopted under this chapter, the commissioner
may investigate and issue orders and notices, including ex parte cease
and desist orders without notice. In addition to all other remedies, he
may bring an action in any circuit or superior court in the name and on
behalf of the state of Indiana against any person or persons
participating in or about to participate in a violation of this chapter to
enjoin those persons from continuing or doing any act in violation of
this chapter or to enforce compliance with this chapter. In any court
proceedings, the commissioner may apply for and on due showing be
entitled to have issued the court's subpoena requiring:
(1) the appearance of any defendant or his employees or agents to
testify and give evidence concerning the acts or conduct or things
complained of; or
(2) the production of documents, books and records;
as may appear necessary for the hearing of the petition.
(b) Whenever any person has engaged or is about to engage in any
act or practice constituting a violation of this chapter or any regulation
or order adopted under this chapter, the offeror, target company or any
record or beneficial owner of an equity security of the target company
may bring an action in the circuit or superior court of the county where
the target company has its principal office or Marion County to enjoin
that person from continuing or doing any act in violation of this chapter
or to enforce compliance with this chapter.
(c) Upon a proper showing, the court may grant a permanent or
preliminary injunction or temporary restraining order or may order
rescission of any sales, tenders for sale, purchases or tenders for
purchase of equity securities determined to be unlawful under this
chapter or any regulation or order of the commissioner. The court may
not require the commissioner to post a bond.
As added by Acts 1979, P.L.235, SEC.1. Amended by Acts
1981, P.L.215, SEC.9.