§ 51-23-12 — Enforcement of chapter

North Dakota § 51-23-12

• Jurisdiction: North Dakota
• Title 51: Sales and Exchanges
• Ch. 51-23: Commodities Transactions

Text

1. If the commissioner believes, whether or not based upon an investigation conducted
under section 51-23-11, 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 rule or order
hereunder, the commissioner may:
a. Issue a cease and desist order;
b. Issue an order imposing a civil penalty in an amount which may not exceed ten
thousand dollars for any single violation or one hundred thousand dollars for
multiple violations in a single proceeding or a series of related proceedings; and
c. Initiate any of the actions specified in subsection 2.
2. The commissioner may institute any of the following actions in the appropriate courts
of this state, or in the appropriate courts of another state, in addition to any legal or
equitable remedies otherwise available:
a. A declaratory judgment;
b. An action for a prohibitory or mandatory injunction to enjoin the violation and to
ensure compliance with this chapter or any rule or order of the commissioner;
c. An action for disgorgement; and
d. An action for appointment of a receiver or conservator for the defendant or the
defendant's assets.