[§485A-604]  Administrative enforcement. 
(a)  If the commissioner determines 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 materially aided, is materially aiding, or is about to
materially aid an act, practice, or course of business constituting a violation
of this chapter or a rule adopted or order issued under this chapter, the commissioner
may:



(1)  Issue an order directing the person to
cease and desist from engaging in the act, practice, or course of business or
to take other action necessary or appropriate to comply with this chapter;



(2)  Issue an order denying, suspending, revoking, or
conditioning the exemptions for a broker-dealer under section 485A-401(b)(1)(D)
or (F), or for an investment adviser under section 485A-403(b)(1)(C); or



(3)  Issue an order under section 485A-204.



(b)  An order under subsection (a) shall be effective
on the date of issuance.  Upon issuance of the order, the commissioner shall
promptly serve each person subject to the order with a copy of the order.  The
order shall include a statement of any civil penalty or costs of investigation
the commissioner will seek, a statement of the reasons for the order, and
notice that, within fifteen days after receipt of a request in a record from
the person, the matter shall be scheduled for a hearing in accordance with
chapter 91.  The order may include 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.  If
a person subject to the order does not request a hearing and none is ordered by
the commissioner within thirty days after the date of service of the order, the
order, including the imposition of a civil penalty or requirement for payment
of the costs of investigation sought in a statement in the order, becomes final
as to that person by operation of law.  If a hearing is requested or ordered,
the commissioner, after notice of and opportunity for hearing to each person
subject to the order, may modify or vacate the order or extend it until a final
determination is made.  During the pendency of any hearing requested
under this subsection, the cease and desist order shall remain in effect unless
vacated or modified by the commissioner; provided that any penalty shall not
take effect until the final order is issued.



(c)  If a hearing is requested or ordered
pursuant to subsection (b), a hearing shall be held pursuant to chapter 91.  A
final order may not be issued unless the commissioner makes findings of fact and
conclusions of law in a record in accordance with chapter 91.  The final order
may make final, vacate, or modify the order issued under subsection (a).



(d)  In a final order under subsection (c), the
commissioner may impose a civil penalty of not more than $50,000 for each
violation.  The order may include 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.



(e)  In a final order, the commissioner may
charge the actual cost of an investigation or proceeding for a violation of
this chapter or a rule adopted or order issued under this chapter.



(f)  If a petition for judicial review of a
final order is not filed in accordance with section 485A-609, the commissioner
may file a certified copy of the final order with the clerk of a court of
competent jurisdiction.  The order so filed has the same effect as a judgment
of the court and may be recorded, enforced, or satisfied in the same manner as
a judgment of the court.



(g)  If a person does not comply with an order
under this section, the commissioner may petition a court of competent
jurisdiction to enforce the order.  If the court finds, after service and
opportunity for hearing, that the person was not in compliance with the
commissioner's order, the court may find the person in civil contempt of the
order.  The court may impose a further civil penalty against the person for
contempt in an amount not to exceed $2,000 for each violation and may grant any
other relief the court determines is just and proper in the circumstances. [L
2006, c 229, pt of §1]