Texas § GV.4007.153 - EQUITABLE RELIEF AND RESTITUTION

§ GV.4007.153. EQUITABLE RELIEF AND RESTITUTION

EQUITABLE RELIEF AND RESTITUTION. (a) On the commissioner's request, the attorney general may, in addition to other remedies, seek: (1) equitable relief, including restitution, for a victim of a fraudulent practice; and (2) the disgorgement of any economic benefit gained by a defendant through an act or practice that violates this title or for which this title provides the commissioner and attorney general with a remedy. (b) The attorney general may seek the remedies described by Subsection (a) either in: (1) an action under Section 4007.152 ; or (2) a separate action brought in district court. (c) The court may: (1) grant any equitable relief the court considers appropriate; and (2) order the defendant to deliver to each victim of an act or practice that violates this title, or for which this title provides the commissioner or the attorney general with a remedy, the amount of money or the property the defendant obtained from the victim, including any bonus, fee, commission, option, proceeds, or profit from or loss avoided through the sale of the security or through the rendering of services as an investment adviser or investment adviser representative, or any other tangible benefit. Added by Acts 2019, 86th Leg., R.S., Ch. 491 (H.B. 4171 ), Sec. 1.01, eff. January 1, 2022.