32-7-122. Investigations by department — desist order — injunctions or other actions. (1) The department may investigate, upon complaint or otherwise, if it appears that:

Terms Used In Montana Code 32-7-122

  • Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
  • Complaint: A written statement by the plaintiff stating the wrongs allegedly committed by the defendant.
  • Defendant: In a civil suit, the person complained against; in a criminal case, the person accused of the crime.
  • Department: means the department of administration as provided for in Title 2, chapter 15, part 10. See Montana Code 32-7-102
  • 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
  • Escrow: Money given to a third party to be held for payment until certain conditions are met.
  • Escrow: means any transaction in which one person, for the purpose of effecting the sale, transfer, encumbrance, or lease of real or personal property to another person or for the purpose of making payments under any encumbrance of the property, delivers any written instrument, money, evidence, title to real or personal property, or other thing of value to a third person to be held by that third person until the happening of a specified event or the performance of a prescribed condition, when the instrument, money, evidence, title, or thing of value is to be delivered by the third person to a grantee, grantor, promisee, promisor, obligee, obligor, bailee, or bailor or to any agents or employees pursuant to the written escrow instructions. See Montana Code 32-7-102
  • Escrow business: means a commercial activity characterized by the regular and continuous carrying on of escrow transactions. See Montana Code 32-7-102
  • Evidence: Information presented in testimony or in documents that is used to persuade the fact finder (judge or jury) to decide the case for one side or the other.
  • Injunction: An order of the court prohibiting (or compelling) the performance of a specific act to prevent irreparable damage or injury.
  • Licensee: means a person holding a valid license under this part as an escrow business. See Montana Code 32-7-102
  • Person: means an individual, cooperative, association, company, firm, partnership, corporation, or other legal entity. See Montana Code 32-7-102
  • 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.

(a)an escrow business is conducting its business in an unsafe and injurious manner or in violation of this part or any rule promulgated pursuant to this part; or

(b)a person is engaging in the escrow business without being licensed under the provisions of this part.

(2)(a) If it appears to the department, upon sufficient grounds or evidence satisfactory to the department, that an escrow business has engaged in or is about to engage in unlicensed activity or any act or practice in violation of this part or any rule or order issued pursuant to this part or that the assets or capital of any escrow business or company are impaired or the licensee‘s affairs are in an unsafe condition, the department may summarily order the escrow business to cease and desist from the act or practice or the department may apply to the district court of Lewis and Clark County to enjoin the act or practice and to enforce compliance with this part or for any other appropriate equitable relief.

(b)Upon a proper showing, the court may:

(i)grant a temporary restraining order, followed by a preliminary injunction and a permanent injunction;

(ii)appoint a receiver for the defendant or defendant’s assets;

(iii)cancel the licensee’s license; and

(iv)order other equitable remedies the court considers necessary and appropriate.

(3)The court may not require the department to post a bond.

  Previous
Next  
 Part 1 Contents