Sec. 20-50. Enforcement actions.
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/il/chapter-205/act-731/20-50A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Sec. 20-50. Enforcement actions.
(a)As used in this Article, "enforcement action" means an action including, but not limited to, all of the following:
(1)Suspending or revoking a registration under this Act.
(2)Ordering a person to cease and desist from doing digital asset business activity
with or on behalf of a resident.
(3)Requesting the court to appoint a receiver for the assets of a person doing digital
asset business activity with or on behalf of a resident.
(4)Requesting the court to issue temporary, preliminary, or permanent injunctive relief
against a person doing digital asset business activity with or on behalf of a resident.
(5)Assessing a civil penalty under Section 20-70.
(6)Recovering on the security under Section 20-5 and initiating a plan to distribute
the proceeds for the benefit of a resident injured by a violation of this Act, or law of this State other than this Act that applies to digital asset business activity with or on behalf of a resident.
(7)Imposing necessary or appropriate conditions on the conduct of digital asset
business activity with or on behalf of a resident.
(8)Seeking restitution on behalf of a resident if the Department shows economic injury
due to a violation of this Act.
(b)The Department may enter into a consent order with a person regarding an enforcement action.
(c)This Section does not provide a private right of action to a resident, provided this Section does not preclude an action by a resident to enforce rights under Article 5 or subsection
(a)of Section 20-5.