Maryland Code, BUSINESS REGULATION 14-210
Terms Used In Maryland Code, BUSINESS REGULATION 14-210
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- Damages: Money paid by defendants to successful plaintiffs in civil cases to compensate the plaintiffs for their injuries.
- Equitable: Pertaining to civil suits in "equity" rather than in "law." In English legal history, the courts of "law" could order the payment of damages and could afford no other remedy. See damages. A separate court of "equity" could order someone to do something or to cease to do something. See, e.g., injunction. In American jurisprudence, the federal courts have both legal and equitable power, but the distinction is still an important one. For example, a trial by jury is normally available in "law" cases but not in "equity" cases. Source: U.S. Courts
- including: means includes or including by way of illustration and not by way of limitation. See
- Injunction: An order of the court prohibiting (or compelling) the performance of a specific act to prevent irreparable damage or injury.
- Person: includes an individual, receiver, trustee, guardian, personal representative, fiduciary, representative of any kind, corporation, partnership, business trust, statutory trust, limited liability company, firm, association, or other nongovernmental entity. See
- Restitution: The court-ordered payment of money by the defendant to the victim for damages caused by the criminal action.
- state: means :
(1) a state, possession, territory, or commonwealth of the United States; or
(2) the District of Columbia. See
(2) After passage of a cease and desist order, the alleged violator may submit to the Commissioner a written request for a hearing.
(3) The hearing shall begin:
(i) within 15 business days after the Commissioner receives the request for a hearing; or
(ii) at a later date, with the consent of the alleged violator.
(4) Unless there is a timely hearing, the cease and desist order is rescinded.
(b) (1) Whenever the Commissioner finds that a person has violated or is about to violate this subtitle or a regulation adopted or order passed under it, the Commissioner may sue in the circuit court to enjoin the violation or enforce this subtitle or the regulation or order.
(2) The court shall:
(i) determine if a violation of this subtitle has been or is about to be committed; and
(ii) if so, pass any order the court considers necessary to prevent the violation or remove the effects of the violation and prevent it from continuing or being renewed in the future.
(3) The court may exercise all equitable powers necessary for this purpose, including:
(i) injunction;
(ii) revocation, forfeiture, or suspension of the charter authority or privileges of a business organization operating under the laws of the State;
(iii) dissolution of a corporation or association organized under the laws of the State;
(iv) suspension or termination of the right of a corporation or association organized under the laws of another state or country to do business in the State;
(v) restitution;
(vi) restraining order;
(vii) award of damages to be paid by a franchisor or subfranchisor to a person injured by a violation of this subtitle; and
(viii) appointment of a receiver or conservator.
(4) The court may not require the Commissioner to post bond.
(c) The Commissioner may not exercise a power under this section more than 3 years after the violation occurs.