Oklahoma § 71-406.1 - Repealed by Laws 2003, c. 347, § 53, eff. July 1, 2004

§ 71-406.1. Repealed by Laws 2003, c. 347, § 53, eff. July 1, 2004

NOTE: Prior to repeal, this section was amended to read as follows:

(a) Upon a showing by the Administrator that a person has

violated or is about to violate the Oklahoma Securities Act, except

under the provisions of Section 202.1 or 305.2 of this title, or a

rule or order of the Administrator under the Oklahoma Securities Act

or that a person has engaged or is about to engage in dishonest or

unethical practices in the securities business, the Administrator,

prior to, concurrently with, or subsequent to an administrative

proceeding, may bring an action in the district court of Oklahoma

County or the district court of any other county where service can

be obtained on one or more of the defendants and the district court

may grant or impose one or more of the following appropriate legal

or equitable remedies:

(1) Upon a showing of a violation of the Oklahoma Securities

Act or a rule or order of the Administrator under the Oklahoma

Securities Act or conduct involving dishonest or unethical practices

in the securities business:

(i) a temporary restraining order, permanent or temporary

prohibitory or mandatory injunction, or a writ of

prohibition or mandamus;

(ii) a civil penalty up to a maximum of Five Thousand

Dollars ($5,000.00) for a single violation or of Fifty

Thousand Dollars ($50,000.00) for multiple violations

in a single proceeding or a series of related

proceedings;

(iii) a declaratory judgment;

(iv) restitution to investors;

(v) an asset freeze, accounting, writ of attachment, writ

of general or specific execution, and the appointment

Oklahoma Statutes - Title 71. Securities

of a receiver or conservator for the defendant or the

defendant's assets; and

(vi) other relief the court deems just.

(2) Upon a showing that the defendant is about to violate the

Oklahoma Securities Act or a rule or order of the Administrator

under the Oklahoma Securities Act or that the defendant is about to

engage in dishonest or unethical practices in the securities

business only:

(i) a temporary restraining order; or

(ii) a temporary or permanent injunction; or

(iii) a writ of prohibition or mandamus.

(b) In determining the appropriate relief under subsection (a)

of this section, the court shall consider any enforcement actions

taken and/or sanctions that may have been imposed by the

Administrator under Section 406 of this title in connection with the

subject transactions.

(c) The Administrator shall not be required to post a bond in

an action under this section.

(d) Upon a showing by the securities agency or administrator of

another state that a person has violated the securities act of that

state or a rule or order of the securities agency or administrator

of that state, the court, in addition to any other legal or

equitable remedies, may impose one or more of the following

remedies:

(1) appointment of a receiver, conservator, or ancillary

receiver or conservator for the defendant or the defendant's assets

located in this state; and

(2) other relief the court considers just.

(e) No costs shall be assessed for or against the Administrator

in any proceeding under the Oklahoma Securities Act brought by or

against it in any court except as otherwise provided by law.

Added by Laws 1987, c. 145, § 2, eff. Nov. 1, 1987. Amended by Laws

1990, c. 71, § 4, eff. Sept. 1, 1990; Laws 1997, c. 279, § 17, eff.

July 1, 1997; Laws 2003, c. 493, § 7, eff. Nov. 1, 2003.