26-1117 POWER OF THE COURT TO GRANT RELIEF. - Idaho Statutes

TITLE 26

BANKS AND BANKING

CHAPTER 11

SUPERVISION BY DEPARTMENT OF FINANCE

26-1117. Power of the court to grant relief. (1) (a) Upon a showing

by the director that a person, not authorized to engage in banking business by the laws of this state or the United States, has violated, or is about to violate, any provision of the Idaho bank act or any rule or order of the director, the court may grant appropriate legal or equitable remedies.

(b) Upon a showing of a violation by a person, not authorized to engage in banking business or trust business by the laws of this state or the United States, of the provisions of the Idaho bank act or a rule or order of the director, the court, in addition to traditional legal and equitable remedies, including temporary restraining orders, permanent or temporary injunctions, and writs of prohibition or mandamus, may grant the following special remedies:

(i) Imposition of a civil penalty in an amount which may not exceed twenty-five thousand dollars ($25,000) for any single violation or one hundred thousand dollars ($100,000) for multiple violations in a single proceeding or a series of related proceedings;

(ii) Disgorgement;

(iii) Declaratory judgment;

(iv) Restitution to depositors wishing restitution; and

(v) Appointment of a receiver or conservator for the defendant or the defendant’s assets.

(c) Appropriate remedies when the defendant is shown only about to violate the provisions of the Idaho bank act or a rule or order of the director shall be limited to:

(i) A temporary restraining order;

(ii) A temporary or permanent injunction;

(iii) A writ of prohibition or mandamus; or

(iv) An order appointing a receiver or conservator for the defendant or the defendant’s assets.

(2) The court shall not require the director to post a bond in any action brought under this chapter.