Chapter 135: MAINE UNIFORM SECURITIES ACT HEADING: PL 2005, C. 65, PT. A, §2 (NEW)
Subchapter 6: ADMINISTRATION AND JUDICIAL REVIEW HEADING: PL 2005, C. 65, PT. A, §2 (NEW)
§16603. Civil enforcement
1.Civil action instituted by administrator. If the administrator believes that a person has engaged, is engaging or is about to engage in an act, practice or course
of business constituting a violation of this chapter or a rule adopted or order issued under this chapter or that a person
has engaged, is engaging or is about to engage in an act, practice or course of business that materially aids a violation of this chapter or a rule
adopted or order issued under this chapter, the administrator may request that the Attorney General bring an action in the
Superior Court of the county in which the person resides or has the principal place of business or in the Superior Court of
Kennebec County to enjoin the act, practice or course of business and to enforce compliance with this chapter or a rule adopted
or order issued under this chapter.
[
2007, c. 14, §11 (AMD)
.]
2.Relief available. In an action under this section and on a proper showing, the court may:
A. Issue a permanent or temporary injunction, restraining order or declaratory judgment; [2005, c. 65, Pt. A, §2 (NEW).]
B. Order other appropriate or ancillary relief, which may include:
(1) An asset freeze, accounting, writ of attachment, writ of general or specific execution and appointment of a receiver
or conservator, which may be the administrator, for the defendant or the defendant's assets;
(2) Ordering the administrator to take charge and control of a defendant's property, including investment accounts and accounts
in a depository institution, rents and profits, to collect debts and to acquire and dispose of property;
(3) Imposing a civil fine not to exceed $10,000 per violation or an order of rescission, restitution or disgorgement directed
to a person that has engaged in an act, practice or course of business constituting a violation of this chapter or the predecessor
act or a rule adopted or order issued under this chapter or the predecessor act; and
(4) Ordering the payment of prejudgment and postjudgment interest; or [2005, c. 65, Pt. A, §2 (NEW).]
C. Order such other relief as the court considers appropriate. [2005, c. 65, Pt. A, §2 (NEW).]
[
2005, c. 65, Pt. A, §2 (NEW)
.]
3.No bond required. The administrator is not required to post a bond in an action or proceeding under this chapter.
[
2005, c. 65, Pt. A, §2 (NEW)
.]
4.Securities agency of another state. Upon a showing by the administrator or securities agency of another state that a person has violated any provision of the
securities act of that state or any rule or order of the administrator or securities agency of that state, the Superior Court
may grant appropriate legal and equitable remedies.
[
2005, c. 65, Pt. A, §2 (NEW)
.]
SECTION HISTORY
2005, c. 65, §A2 (NEW).
2007, c. 14, §11 (AMD).
Data for this page extracted on 11/16/2009 02:42:06.