Civil enforcement

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  • (a) If it appears to the Administrator 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, is, or is about to engage in an act, practice, or course of business that materially aids a violation of this chapter or a rule adopted or order issued under this chapter, the Administrator may maintain an action in the Superior Court of the Virgin Islands to enjoin the act, practice, or course of business and to enforce compliance with this chapter or a rule adopted or order issued under this chapter.

  • (b) In an action under this section and upon a proper showing, the court may:

    • (1) issue a permanent or temporary injunction, restraining order or a declaratory judgment;

    • (2) issue an order for other appropriate or ancillary relief, which may include:

      • (A) an asset freeze, accounting, writ of attachment, writ of general or specific execution, and an appointment of a receiver or conservator, that may be the Administrator, for the defendant or the defendant's assets;

      • (B) ordering the Administrator to take charge and control of a defendant's property, including investment accounts and accounts in a depository institution, rents, and profits; to collect debts; and to acquire and dispose of property;

      • (C) the imposition of a civil penalty up to a maximum of $10,000 for each violation; an order of 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 an rule adopted or order issued under this chapter; and

      • (D) an order for the payment of prejudgment and post judgment interest; or

    • (3) granting other relief that the court considers appropriate.

  • (c) The Administrator may not be required to post a bond in an action or proceeding under this chapter.


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