§ 2009cc–12. Injunctions and other orders
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/usc/title-7/section-2009cc-12A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Whenever, in the judgment of the Secretary, a rural business investment company or any other person has engaged or is about to engage in any act or practice that constitutes or will constitute a violation of a provision of this subchapter (including any rule, regulation, order, or participation agreement under this subchapter), the Secretary may apply to the appropriate district court of the United States for an order enjoining the act or practice, or for an order enforcing compliance with the provision, rule, regulation, order, or participation agreement.
The court shall have jurisdiction over the action and, on a showing by the Secretary that the rural business investment company or other person has engaged or is about to engage in an act or practice described in paragraph (1), a permanent or temporary injunction, restraining order, or other order, shall be granted without bond. In any proceeding under subsection (a), the court as a court of equity may, to such extent as the court considers necessary, take exclusive jurisdiction over the rural business investment company and the assets of the rural business investment company, wherever located.
The court shall have jurisdiction in any proceeding described in paragraph
(1)to appoint a trustee or receiver to hold or administer the assets. The Secretary may act as trustee or receiver of a rural business investment company. On the request of the Secretary, the court shall appoint the Secretary to act as a trustee or receiver of a rural business investment company unless the court considers the appointment inequitable or otherwise inappropriate by reason of any special circumstances involved. ( Pub. L. 87–128, title III, § 384M , as added Pub. L. 107–171, title VI, § 6029 , May 13, 2002 , 116 Stat. 399 .)
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- Pub. L. 87-128
- Pub. L. 107-171
- 116 Stat. 399
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§ 2009cc–12
Injunctions and other orders
Stat.×1
Pub. L.Pub. L. 87-128
Pub. L.Pub. L. 107-171
Stat.116 Stat. 399
Cites 3Cited by 1 across 1 source