§ 6:1392 — Enforcement power of the commissioner

Louisiana § 6:1392

• Jurisdiction: Louisiana
• Title 6: Banks and Banking

Text

§1392. Enforcement power of the commissioner
A. For purposes of this Chapter, "enforcement action" means an action or actions by
the commissioner to enforce the requirements of this Chapter, including any of the following:
(1) Suspend or revoke a license pursuant to the provisions of this Chapter.
(2) Order a person to cease and desist from doing virtual currency business activity
with, or on behalf of, a resident.
(3) Request the court to appoint a receiver for the assets of a person doing virtual
currency business activity with, or on behalf of, a resident.
(4) Request the court to issue temporary, preliminary, or permanent injunctive relief
against a person doing virtual currency business activity with, or on behalf of, a resident.
(5) Assess civil money penalties.
(6) Recover on the surety bond provided pursuant to R.S. 6:1386 and initiate a plan
to distribute the proceeds for the benefit of a resident injured by a violation of any provision
of this Chapter.
(7) Impose necessary or appropriate conditions on the conduct of virtual currency
business activity with, or on behalf of, a resident.
B. Any enforcement action pursuant to this Section may be supplemented by the
exercise of any other enforcement power by the commissioner as may be authorized by this
Title or any other Title of the Louisiana Revised Statutes of 1950.
NOTE: The provisions of Acts 2023, No. 331, will terminate on July 1,
2027. See Acts 2024, No. 700.
NOTE: The provisions of Acts 2023, No. 331, have no termination date. See
Acts 2024, No. 159.

Legislative History

Acts 2020, No. 341, §1; Acts 2023, No. 331, §1, eff. June 13, 2023; Acts 2024, No. 159, §1; Acts 2024, No. 700, §2.