Legislation

Search OpenLegislation Statutes
This entry was published on 2014-09-22
The selection dates indicate all change milestones for the entire volume, not just the location being viewed. Specifying a milestone date will retrieve the most recent version of the location before that date.
SECTION 309
Injunction to restrain violation of this chapter
Financial Services Law (FIS) CHAPTER 18-A, ARTICLE 3
§ 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.

(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.