AI-assisted research summary: The deputy director may order a person or financial institution to stop violating conduct and take corrective action, and may go to court for injunctions.
6-137 - Cease and desist orders; injunctions; public inspection 6-137 . Cease and desist orders; injunctions; public inspection A. If it appears to the deputy director that any person has engaged, is engaging or is about to engage in any act, practice or transaction that constitutes a violation of this title or any rule or order of the deputy director or a violation of any federal insurance regulation as determined by the appropriate federal regulatory authority in writing, the deputy director may issue an order directing the person and directors, officers, employees and agents of the person to cease and desist from engaging in the act, practice or transaction or doing any act in furtherance of the act, practice or transaction and to take appropriate affirmative action, within a reasonable period of time as prescribed by the deputy director, to correct the conditions resulting from the act, practice or transaction. B. If it appears to the deputy director that any financial institution or enterprise or any officer, director, employee, agent or other person participating in the conduct of the affairs of the financial institution or enterprise has engaged, is engaging or is about to engage in any act, practice or transaction that constitutes an unsafe or unsound practice or a violation of any order of the deputy director, applicable law or rule, written agreement entered into with the deputy director or condition imposed in writing by the deputy director in connection with the granting of any application or other request by the financial institution or enterprise, the deputy director may issue an order directing the financial institution or enterprise or any director, officer, employee, agent or other person participating in the conduct of the affairs of the financial institution or enterprise to cease and desist from engaging in the act, practice or transaction or doing any act in furtherance of the act, practice or transaction and to take appropriate affirmative action, within a reasonable period of time as prescribed by the deputy director, to correct the conditions resulting from the act, practice or transaction. C. An order issued by the deputy director under this section becomes effective at the time of service and remains effective and enforceable except to the extent that it is stayed, modified, terminated or set aside by the deputy director or a reviewing court pursuant to this article. D. A person aggrieved by an order issued by the deputy director under this section may request a hearing pursuant to title 41, chapter 6, article 10. After requesting a hearing, the person may move that the order be stayed or modified pending the hearing. If the order is not stayed or modified or the motion is not acted on within ten days, the person may apply to the superior court for an order for relief. E. If it appears to the deputy director that a person has engaged, is engaging or is about to engage in an act, practice or transaction that constitutes a violation of this title or any rule or order of the deputy director or a violation of any federal insurance regulation as determined by the appropriate federal regulatory authority, the deputy director may apply to the superior court in Maricopa county for any of the following: 1. An injunction enjoining the person from engaging in the act, practice or transaction or from doing any act in furtherance of the act, practice or transaction, and on a showing by the deputy director that the person has engaged, is engaging or is about to engage in an act, practice or transaction in violation of this title, any other applicable law or any rule or order of the deputy director the court shall grant without bond a temporary restraining order, preliminary injunction or permanent injunction. 2. An order granting additional relief as may be available under this title. F. The court shall give an action brought pursuant to this section precedence over all other civil actions. G. An order that is issued by the deputy director under this section to a person, financial institution or financial enterprise that has engaged or is engaging in a violation that relates to unlicensed activity shall be open to public inspection.