§ 51-23-13 — Power of court to grant relief

North Dakota § 51-23-13

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

Text

1. a. Upon a proper showing by the commissioner that a person has violated, or is
about to violate, any provision of this chapter or any rule or order of the
commissioner, the district court of Burleigh County, North Dakota, may grant
appropriate legal or equitable remedies.
b. Upon showing of violation of this chapter or a rule or order of 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 grant the following special
remedies:
(1) Imposition of a civil penalty in an amount that 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;
(2) Disgorgement;
(3) Declaratory judgment;
(4) Restitution to investors wishing restitution; and
(5) Appointment of a receiver or conservator for the defendant or the
defendant's assets.
c. Appropriate remedies when the defendant is shown only about to violate this
chapter or a rule or order of the commissioner must be limited to:
(1) A temporary restraining order;
(2) A temporary or permanent injunction;
(3) A writ of prohibition or mandamus; and

(4) An order appointing a receiver or conservator for the defendant or the
defendant's assets.
2. The court may not require the commissioner to post a bond in any official action under
this chapter.
3. a. Upon a proper showing by the commissioner or securities or commodity agency
of another state that a person other than a government or governmental agency
or instrumentality has violated, or is about to violate, any provision of the
commodity code of that state or any rule or order of the administrator or securities
or commodity agency of that state, the district court of Burleigh County, North
Dakota, may grant appropriate legal and equitable remedies.
b. Upon showing of a violation of the securities or commodity act of the foreign state
or a rule or order of the administrator or securities or commodity agency of the
foreign state, the court, in addition to traditional legal or equitable remedies
including temporary restraining orders, permanent or temporary prohibitory or
mandatory injunctions, and writs of prohibition or mandamus, may grant the
following special remedies:
(1) Disgorgement; and
(2) Appointment of a receiver, conservator, or ancillary receiver or conservator
for the defendant or the defendant's assets located in this state.
c. Appropriate remedies when the defendant is shown only about to violate the
securities or commodity act of the foreign state or a rule or order of the
administrator or securities or commodity agency of the foreign state must be
limited to:
(1) A temporary restraining order;
(2) A temporary or permanent injunction;
(3) A writ of prohibition or mandamus; and
(4) An order appointing a receiver, conservator, or ancillary receiver or
conservator for the defendant or the defendant's assets located in this state.