Maryland Code, CORPORATIONS AND ASSOCIATIONS 11-702
Terms Used In Maryland Code, CORPORATIONS AND ASSOCIATIONS 11-702
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- Defendant: In a civil suit, the person complained against; in a criminal case, the person accused of the crime.
- 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
- Rescission: The cancellation of budget authority previously provided by Congress. The Impoundment Control Act of 1974 specifies that the President may propose to Congress that funds be rescinded. If both Houses have not approved a rescission proposal (by passing legislation) within 45 days of continuous session, any funds being withheld must be made available for obligation.
- Restitution: The court-ordered payment of money by the defendant to the victim for damages caused by the criminal action.
- Temporary restraining order: Prohibits a person from an action that is likely to cause irreparable harm. This differs from an injunction in that it may be granted immediately, without notice to the opposing party, and without a hearing. It is intended to last only until a hearing can be held.
(1) A temporary restraining order; or
(2) A temporary or permanent injunction.
(b) Whenever it appears to the Commissioner that any person has engaged in any act or practice constituting a violation of any provision of this title or any rule or order under this title or that a person has knowingly or recklessly provided substantial assistance, is knowingly or recklessly providing substantial assistance, or is about to knowingly or recklessly provide substantial assistance to another person in connection with an act, a practice, or a course of business constituting a violation of this title or a rule adopted or an order issued under this title, the Commissioner may in the Commissioner’s discretion bring an action to obtain one or more of the following remedies:
(1) A temporary restraining order;
(2) A temporary or permanent injunction;
(3) A civil penalty up to a maximum amount of $5,000 for any single violation of this title;
(4) A declaratory judgment;
(5) The appointment of a receiver or conservator for the defendant or the defendant’s assets;
(6) A freeze of the defendant’s assets;
(7) Rescission;
(8) Restitution;
(9) Disgorgement;
(10) Payment of prejudgment and postjudgment interest; and
(11) Any other relief as the court deems just.
(c) An action under this section is not subject to the provisions of § 5-107 of the Courts and Judicial Proceedings Article.
(d) The Commissioner may not be required to post a bond in any action under this section.