NRS 90.640 Power of court to grant relief.

542 words·~2 min read·/nv/chapter-90-securities-uniform-act/90-640·

A research copy — for the controlling text, always check the official state or federal source. Not legal advice.

1. Upon a showing by the Administrator that a person has violated or is about to violate this chapter, or a regulation or order of the Administrator under this chapter, the appropriate district court may grant or impose one or more of the following appropriate legal or equitable remedies:

(a)Upon a showing that a person has violated this chapter, or a regulation or order of the Administrator under this chapter, the court may singly or in combination:

(1)Issue a temporary restraining order, permanent or temporary prohibitory or mandatory injunction or a writ of prohibition or mandamus;

(2)Impose a civil penalty of not more than $25,000 for each violation or, if the violation was committed against an older person or vulnerable person, a civil penalty equal to twice the amount of the civil penalty that would otherwise have been imposed pursuant to this subparagraph, not to exceed $50,000 for each violation;

(3)Issue a declaratory judgment;

(4)Order restitution to investors which, if the violation was committed against an older person or vulnerable person, must be in an amount equal to twice the amount of restitution that would otherwise have been ordered pursuant to this subparagraph;

(5)Provide for the appointment of a receiver or conservator for the defendant or the defendant’s assets;

(6)Order payment of the Division’s investigative costs which, if the violation was committed against an older person or vulnerable person, must be in an amount equal to twice the amount of the Division’s investigative costs that would otherwise have been ordered for payment pursuant to this subparagraph; or

(7)Order such other relief as the court deems just.

(b)Upon a showing that a person is about to violate this chapter, or a regulation or order of the Administrator under this chapter, a court may issue:

(1)A temporary restraining order;

(2)A temporary or permanent injunction; or

(3)A writ of prohibition or mandamus.

2. In determining the appropriate relief to grant, the court shall consider enforcement actions taken and sanctions imposed by the Administrator under NRS 90.630 in connection with the transactions constituting violations of this chapter or a regulation or order of the Administrator under this chapter. If a remedial action is imposed pursuant to this section, the costs of the proceeding, including investigative costs and attorney’s fees, may be recovered by the Administrator.

3. The court shall not require the Administrator to post a bond in an action under this section.

4. Upon a showing by the administrator or securities agency of another state that a person has violated the securities act of that state or a regulation or order of the administrator or securities agency of that state, the appropriate district court may grant, in addition to any other legal or equitable remedies, one or more of the following remedies:

(a)Appointment of a receiver, conservator or ancillary receiver or conservator for the defendant or the defendant’s assets located in this State; or

(b)Other relief as the court deems just.

5. As used in this section:

(a)“Older person” has the meaning ascribed to it in NRS 200.5092 .

(b)“Vulnerable person” has the meaning ascribed to it in NRS 200.5092 .