409.6-603. (a) If the commissioner believes that a person hasengaged, is engaging, or is about to engage in an act, practice, or courseof business constituting a violation of this act or a rule adopted or orderissued under this act or that a person has, is, or is about to engage in anact, practice, or course of business that materially aids a violation ofthis act or a rule adopted or order issued under this act, the commissionermay maintain an action in the circuit court of any county of the state orany city not within a county to enjoin the act, practice, or course ofbusiness and to enforce compliance with this act or a rule adopted or orderissued under this act.
(b) In an action under this section and on a proper showing, thecourt may:
(1) Issue a permanent or temporary injunction, restraining order, ordeclaratory judgment;
(2) Order other appropriate or ancillary relief, which may include:
(A) An asset freeze, accounting, writ of attachment, writ of generalor specific execution, and appointment of a receiver or conservator, thatmay be the commissioner, for the defendant or the defendant's assets;
(B) Ordering the commissioner to take charge and control of adefendant's property, including investment accounts and accounts in adepository institution, rents, and profits; to collect debts; and toacquire and dispose of property;
(C) Imposing a civil penalty up to ten thousand dollars for a singleviolation or up to one million dollars for more than one violation; anorder of rescission, restitution, or disgorgement directed to a person thathas engaged in an act, practice, or course of business constituting aviolation of this act or the predecessor act or a rule adopted or orderissued under this act or the predecessor act;
(D) Ordering the payment of prejudgment and post-judgment interest;and
(E) Ordering the payment to the investor education and protectionfund of an amount equal to ten percent of the total rescission,restitution, or disgorgement ordered, or such other amount as awarded bythe court; or
(3) Order such other relief as the court considers appropriate.
(c) The commissioner may not be required to post a bond in an actionor proceeding under this act.
(d) The commissioner is authorized to enter into a consent injunctionand judgment in the settlement of any proceeding in the public interestunder this act.
(e) The commissioner may create an "Investor Restitution Fund" forthe purpose of preserving and distributing to aggrieved investors,disgorgement or restitution funds obtained through enforcement proceedingsunder this act. In addition to the equitable powers of the courtauthorized above, the court may order that such funds be paid into theinvestor restitution fund for distribution to aggrieved investors. Itshall be the duty of the commissioner to distribute such funds to thosepersons injured by the unlawful acts, practices, or courses of business.Such funds may or may not be in interest-bearing accounts, but anyinterest, which accrues to any such account, shall be paid to the credit ofthe investor education and protection fund. Notwithstanding the provisionsof section 33.080, RSMo, any funds remaining in the secretary of state'sinvestor restitution fund at the end of any biennium shall not betransferred to the general revenue fund, but if the commissioner is unablewith reasonable efforts to ascertain the aggrieved investors, then thefunds may be transferred to the investor education and protection fund.
409.6-603. (a) If the commissioner believes that a person hasengaged, is engaging, or is about to engage in an act, practice, or courseof business constituting a violation of this act or a rule adopted or orderissued under this act or that a person has, is, or is about to engage in anact, practice, or course of business that materially aids a violation ofthis act or a rule adopted or order issued under this act, the commissionermay maintain an action in the circuit court of any county of the state orany city not within a county to enjoin the act, practice, or course ofbusiness and to enforce compliance with this act or a rule adopted or orderissued under this act.
(b) In an action under this section and on a proper showing, thecourt may:
(1) Issue a permanent or temporary injunction, restraining order, ordeclaratory judgment;
(2) Order other appropriate or ancillary relief, which may include:
(A) An asset freeze, accounting, writ of attachment, writ of generalor specific execution, and appointment of a receiver or conservator, thatmay be the commissioner, for the defendant or the defendant's assets;
(B) Ordering the commissioner to take charge and control of adefendant's property, including investment accounts and accounts in adepository institution, rents, and profits; to collect debts; and toacquire and dispose of property;
(C) Imposing a civil penalty up to ten thousand dollars for a singleviolation or up to one million dollars for more than one violation; anorder of rescission, restitution, or disgorgement directed to a person thathas engaged in an act, practice, or course of business constituting aviolation of this act or the predecessor act or a rule adopted or orderissued under this act or the predecessor act;
(D) Ordering the payment of prejudgment and post-judgment interest;and
(E) Ordering the payment to the investor education and protectionfund of an amount equal to ten percent of the total rescission,restitution, or disgorgement ordered, or such other amount as awarded bythe court; or
(3) Order such other relief as the court considers appropriate.
(c) The commissioner may not be required to post a bond in an actionor proceeding under this act.
(d) The commissioner is authorized to enter into a consent injunctionand judgment in the settlement of any proceeding in the public interestunder this act.
(e) The commissioner may create an "Investor Restitution Fund" forthe purpose of preserving and distributing to aggrieved investors,disgorgement or restitution funds obtained through enforcement proceedingsunder this act. In addition to the equitable powers of the courtauthorized above, the court may order that such funds be paid into theinvestor restitution fund for distribution to aggrieved investors. Itshall be the duty of the commissioner to distribute such funds to thosepersons injured by the unlawful acts, practices, or courses of business.Such funds may or may not be in interest-bearing accounts, but anyinterest, which accrues to any such account, shall be paid to the credit ofthe investor education and protection fund. Notwithstanding the provisionsof section 33.080, RSMo, any funds remaining in the secretary of state'sinvestor restitution fund at the end of any biennium shall not betransferred to the general revenue fund, but if the commissioner is unablewith reasonable efforts to ascertain the aggrieved investors, then thefunds may be transferred to the investor education and protection fund.
409.6-603. (a) If the commissioner believes that a person hasengaged, is engaging, or is about to engage in an act, practice, or courseof business constituting a violation of this act or a rule adopted or orderissued under this act or that a person has, is, or is about to engage in anact, practice, or course of business that materially aids a violation ofthis act or a rule adopted or order issued under this act, the commissionermay maintain an action in the circuit court of any county of the state orany city not within a county to enjoin the act, practice, or course ofbusiness and to enforce compliance with this act or a rule adopted or orderissued under this act.
(b) In an action under this section and on a proper showing, thecourt may:
(1) Issue a permanent or temporary injunction, restraining order, ordeclaratory judgment;
(2) Order other appropriate or ancillary relief, which may include:
(A) An asset freeze, accounting, writ of attachment, writ of generalor specific execution, and appointment of a receiver or conservator, thatmay be the commissioner, for the defendant or the defendant's assets;
(B) Ordering the commissioner to take charge and control of adefendant's property, including investment accounts and accounts in adepository institution, rents, and profits; to collect debts; and toacquire and dispose of property;
(C) Imposing a civil penalty up to ten thousand dollars for a singleviolation or up to one million dollars for more than one violation; anorder of rescission, restitution, or disgorgement directed to a person thathas engaged in an act, practice, or course of business constituting aviolation of this act or the predecessor act or a rule adopted or orderissued under this act or the predecessor act;
(D) Ordering the payment of prejudgment and post-judgment interest;and
(E) Ordering the payment to the investor education and protectionfund of an amount equal to ten percent of the total rescission,restitution, or disgorgement ordered, or such other amount as awarded bythe court; or
(3) Order such other relief as the court considers appropriate.
(c) The commissioner may not be required to post a bond in an actionor proceeding under this act.
(d) The commissioner is authorized to enter into a consent injunctionand judgment in the settlement of any proceeding in the public interestunder this act.
(e) The commissioner may create an "Investor Restitution Fund" forthe purpose of preserving and distributing to aggrieved investors,disgorgement or restitution funds obtained through enforcement proceedingsunder this act. In addition to the equitable powers of the courtauthorized above, the court may order that such funds be paid into theinvestor restitution fund for distribution to aggrieved investors. Itshall be the duty of the commissioner to distribute such funds to thosepersons injured by the unlawful acts, practices, or courses of business.Such funds may or may not be in interest-bearing accounts, but anyinterest, which accrues to any such account, shall be paid to the credit ofthe investor education and protection fund. Notwithstanding the provisionsof section 33.080, RSMo, any funds remaining in the secretary of state'sinvestor restitution fund at the end of any biennium shall not betransferred to the general revenue fund, but if the commissioner is unablewith reasonable efforts to ascertain the aggrieved investors, then thefunds may be transferred to the investor education and protection fund.
