§ 58-13A-12 — Enforcement

A. If the director believes, whether or not based upon an investigation conducted under Section 11 [58-13A-11 NMSA 1978] of the Model State Commodity Code, that any person has engaged or is about to engage in any act or practice constituting a violation of any provision of that code or any rule or order under that code, the director may: (1) issue a cease and desist order; (2) take disciplinary action against a licensed person as specified in that code; (3) issue an order imposing a civil penalty in amount which may not exceed ten thousand dollars ($10,000) for any single violation or one hundred thousand dollars ($100,000) for multiple violations in a single proceeding or a series of related proceedings; or (4) initiate any of the actions specified in Subsection B of this section. B. The director 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: (1) a declaratory judgment; (2) an action for a prohibitory or mandatory injunction to enjoin the violation and to ensure compliance with the Model State Commodity Code or any rule or order of the director; (3) an action for disgorgement; (4) an action for restitution; or (5) an action for appointment of a receiver or conservator for the defendant or the defendant's assets.

Legislative History

Laws 1985, ch. 163, § 12.