N.Y. Financial Services Law Law 309 – Injunction to restrain violation of this chapter
§ 309. Injunction to restrain violation of this chapter. (a) In addition to such other remedies as are provided under this chapter, the superintendent may maintain and prosecute an action against any person subject to this chapter, the insurance law or the banking law, or the person's officers, directors, trustees or agents, for the purpose of obtaining an injunction restraining such person or persons from doing any acts in violation of the provisions of this chapter, the insurance law or the banking law.
Terms Used In N.Y. Financial Services Law Law 309
- 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.
- Prosecute: To charge someone with a crime. A prosecutor tries a criminal case on behalf of the government.
(b) In such action if the court finds that a defendant is threatening or is likely to do any act in violation of this chapter, the insurance law or the banking law and that such violation will cause irreparable injury to the interests of the people of this state, the court may grant an injunction restraining such violation. The court may on motion and affidavits grant a preliminary injunction and interlocutory injunction, upon such terms as may be just; but the superintendent shall not be required to give security before the issuance of any such injunction.