§713. Stop orders and injunctions against violations; receivers or auditors; criminal prosecutions
A. Whenever it may appear to the commissioner, either upon complaint or otherwise, that any person has engaged in or is engaging in or is about to engage in any act or practice or transaction which is prohibited by this Part or by any rule, regulation, or order of the commissioner promulgated or issued pursuant to any Section of this Part, or which is declared to be unlawful under this Part, the commissioner may, at his discretion, act under any or all of the following Paragraphs:
(1) Issue an order, if he deems it to be appropriate in the public interest or for the protection of investors, prohibiting such person from continuing such act, practice, or transaction, subject to the right of such person to a hearing as provided in R.S. 51:716.
(2) Apply to any judicial district court in this state for an injunction restraining such person and his agents, employees, partners, officers, and directors from continuing such act, practice, or transaction or engaging therein or doing any acts in furtherance thereof and for appointment of a receiver or an auditor and such other and further relief as the facts may warrant.
(3) Transmit such evidence as may be available concerning such act, practice, or transaction to any district attorney or to the attorney general, who may, at his individual discretion, institute the necessary criminal proceedings.
B. In any proceedings for an injunction, the commissioner may apply for and be entitled to have issued the court's subpoena requiring:
(1) The appearance forthwith of any defendant and his agents, employees, partners, officers, or directors.
(2) The production of such documents, books, and records as may appear necessary for the hearing upon the petition for an injunction. Upon proof of any of the offenses described in this Section, the court may grant such injunction and appoint a receiver or an auditor and issue such other orders for the protection of investors as the facts may warrant.
C. In any criminal proceeding either the district attorney or the attorney general or both may apply for and be entitled to have issued the court's subpoena requiring:
(1) The appearance forthwith of any defendant or his agents, employees, partners, officers, or directors.
(2) The production of such documents, books, and records as may appear necessary for the prosecution of such criminal proceedings.
Acts 1985, No. 722, §1.
Copyright ©2024 LegalFix. All rights reserved. LegalFix is not a law firm, is not licensed to practice law, and does not provide legal advice, services, or representation. The information on this website is an overview of the legal plans you can purchase—or that may be provided by your employer as an employee benefit or by your credit union or other membership group as a membership benefit.
LegalFix provides its members with easy access to affordable legal services through a network of independent law firms. LegalFix, its corporate entity, and its officers, directors, employees, agents, and contractors do not provide legal advice, services, or representation—directly or indirectly.
The articles and information on the site are not legal advice and should not be relied upon—they are for information purposes only. You should become a LegalFix member to get legal services from one of our network law firms.
You should not disclose confidential or potentially incriminating information to LegalFix—you should only communicate such information to your network law firm.
The benefits and legal services described in the LegalFix legal plans are not always available in all states or with all plans. See the legal plan Benefit Overview and the more comprehensive legal plan contract during checkout for coverage details in your state.
Use of this website, the purchase of legal plans, and access to the LegalFix networks of law firms are subject to the LegalFix Terms of Service and Privacy Policy.