§ 23-2-6-30 — Violations; special remedies

Indiana § 23-2-6-30

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

Text

(a) Upon a showing by the commissioner that
a person has violated or is about to violate this chapter or any rule or
order adopted or issued by the commissioner, a court may grant
appropriate legal or equitable remedies.
(b) Upon a showing by the commissioner of a violation of this
chapter or a rule or order adopted or issued by the commissioner, the
court, in addition to traditional legal and equitable remedies, including
temporary restraining orders, permanent or temporary prohibitory or
mandatory injunctions, and writs of prohibition or mandamus, may
order the following special remedies:
(1) A civil penalty of not more than ten thousand dollars
($10,000) for any single violation.
(2) Disgorgement.
(3) Declaratory judgment.
(4) Restitution to investors that request restitution.
(5) Appointment of a receiver or conservator for the defendant or
the defendant's assets.
(c) If the commissioner shows only that a person is about to violate
this chapter or a rule or order issued or adopted by the commissioner,
appropriate remedies under this chapter are limited to the following:
(1) A temporary restraining order.
(2) A temporary injunction or permanent injunction.
(3) A writ of prohibition or writ of mandamus.
(4) An order appointing a receiver or conservator for the
defendant or the defendant's assets.

Legislative History

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