PART III. ENFORCEMENT ACTIONS

 

§412:2-300  Enforcement actions.  Inenforcing the provisions of this chapter, the commissioner is authorized to usethe powers in this part without limitation to direct the discontinuance of anyviolation of law, or any unsafe or unsound practice that is likely to causeinsolvency or substantial dissipation of assets or earnings of theinstitution.  The provisions of this chapter may be enforced by informal orformal actions.  Informal actions include board resolutions, letter agreements,records of action, memoranda of understanding, or supervisory agreements. Formal actions include cease and desist orders (whether temporary orpermanent), removal orders, suspension and revocation orders, divestitureorders, and orders enforcing statutory provisions.  Any person who is thesubject of formal or informal enforcement action by the commissioner mayconsent to the entry of any formal order. [L 1993, c 350, pt of §1; am L 1998,c 196, §2]