§ 23-2-6-29 — Cease and desist orders; civil remedies

Indiana § 23-2-6-29

• Jurisdiction: Indiana
• Title 23: BUSINESS AND OTHER ASSOCIATIONS
• Art. 2: SECURITIES AND FRANCHISES
• Ch. 6: Indiana Commodity Code

Text

(a) If the commissioner believes, whether or
not based upon an investigation conducted under section 28 of this
chapter, that a person has engaged or is about to engage in any act or
practice that violates this chapter or any rule or order adopted or issued
by the commissioner, the commissioner may do any of the following:
(1) Issue a cease and desist order.
(2) Issue an order imposing a civil penalty of not more than ten
thousand dollars ($10,000) for any single violation.
(3) Initiate any of the actions specified in subsection (b).
(b) In addition to any other legal or equitable remedies, the
commissioner may bring any of the following actions in circuit or
superior court or in the appropriate courts of another state:
(1) An action for declaratory judgment.
(2) An action for a prohibitory injunction or mandatory injunction
to:
(A) enjoin any violation; and
(B) ensure compliance with this chapter or any rule or order
adopted or issued by the commissioner.
(3) An action for disgorgement.
(4) An action for the appointment of a receiver or conservator for
the defendant or the defendant's assets.

Legislative History

As added by P.L.177-1991, SEC.10.