§ 421-A:11 — Enforcement

I. Whenever it appears to the secretary of state that any person has engaged in or is about to engage in any act or practice constituting a violation of this chapter, or any rule adopted or order issued under it, the secretary of state may issue and cause to be served upon any person violating any of the provisions of this chapter, an order requiring the person to cease and desist therefrom; and the secretary of state may bring an action in a court of competent jurisdiction to enjoin the acts or practices and to enforce compliance with this chapter or any rule adopted or order issued under it. Upon a proper showing, the court may grant a permanent or temporary injunction or restraining order and may order rescission of any sales or purchases of securities determined to be unlawful under this chapter, or any rule adopted or order issued under it. The court may not require the secretary of state to post a bond.
II. In any court proceedings, the attorney general may apply for and, on due showing, be entitled to have issued the court's subpoena requiring the appearance of any defendant and his employees or agents and the production of documents, books and records as may appear necessary for the hearing of the petition, and to testify and give evidence concerning the acts, conduct or things complained of in the action.
III. Whenever it appears that any person has engaged in or is about to engage in any act or practice constituting a violation of this chapter or any rule adopted or order issued under it, the offeror, target company or any record or beneficial owner of an equity security of the target company may bring an action in a court of competent jurisdiction to enjoin the acts or practices and to enforce compliance with the chapter or any rule adopted or order issued under it. Upon a proper showing, the court may grant a permanent or preliminary injunction or temporary restraining order or may order rescission of any sales, tenders for sale, purchases or tenders for purchase of equity securities determined to be unlawful under this chapter or any rule or order of the attorney general.

Legislative History

1977, 20:1. 1988, 62:10, 11, 13. 1991, 355:69, 89, I. 1992, 288:31, eff. July 1, 1992.