AI-assisted research summary: The district court may grant remedies for violations or threatened violations of the Model State Commodity Code or the director’s orders, and it may not require the director to post a bond.
58-13A-13. Power of court to grant relief. A. (1) Upon a proper showing by the director that a person has violated, or is about to violate, any provision of the Model State Commodity Code or any rule or order of the director, the district court may grant appropriate legal or equitable remedies. (2) Upon showing of violation of the Model State Commodity Code or a rule or order of the director, 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: (a) imposition of 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; (b) disgorgement; (c) declaratory judgment; (d) restitution to investors wishing restitution; and (e) appointment of a receiver or conservator for the defendant or the defendant's assets. (3) Appropriate remedies when the defendant is shown only about to violate the Model State Commodity Code or a rule or order of the director shall be limited to: (a) a temporary restraining order; (b) a temporary or permanent injunction; (c) a writ of prohibition or mandamus; or (d) an order appointing a receiver or conservator for the defendant or the defendant's assets. B. The court shall not require the director to post a bond in any official action under the Model State Commodity Code. C. (1) Upon a proper showing by the director 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 may grant appropriate legal and equitable remedies. (2) 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: (a) disgorgement; and (b) appointment of a receiver, conservator or ancillary receiver or conservator for the defendant or the defendant's assets located in this state. (3) 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 shall be limited to: (a) a temporary restraining order; (b) a temporary or permanent injunction; (c) a writ of prohibition or mandamus; or (d) an order appointing a receiver, conservator, or ancillary receiver or conservator for the defendant or the defendant's assets located in this state. History: Laws 1985, ch. 163, § 13.