Indiana § 23-2.5-11-11 Action to enjoin; other relief

Indiana Statutes

§ 23-2.5-11-11 — Action to enjoin; other relief

Indiana·Title 23 BUSINESS AND OTHER ASSOCIATIONS·Art. 2.5 LOAN BROKERS·Ch. 11 Violations and Civil Enforcement

(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 that:

(1)is; or

(2)materially aids; a violation of this article or a rule adopted or an 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 is being conducted to enjoin the act, practice, or course of business and to enforce compliance with this article or a rule adopted or an 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, including:

(A)an asset freeze

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(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 that:
(1) is; or
(2) materially aids;
a violation of this article or a rule adopted or an 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 is being
conducted to enjoin the act, practice, or course of business and to
enforce compliance with this article or a rule adopted or an 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, including:
(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:
(i) take control of a respondent's property, including
investment accounts and accounts in a depository institution,
rents, and profits;
(ii) collect debts; and
(iii) acquire and dispose of property;
(C) imposing a civil penalty of not more than ten thousand
dollars ($10,000) per violation and an order of rescission,
restitution, or disgorgement directed to the person that has
engaged in an act, practice, or course of business constituting
a violation of this article or a rule adopted or an order issued
under this article; and
(D) ordering the payment of prejudgment and postjudgment
interest; or
(3) order other relief that the court considers appropriate.
(c) The commissioner may not be required to post a bond in an
action or a proceeding under this article.
(d) Penalties collected under this section must be deposited in the
securities division enforcement account established by IC 23-19-6-1(f).