Section 50324 Of Chapter 5. Administration And Powers Of The Commissioner From California Financial Code >> Division 20. >> Chapter 5.
50324
. (a) If, after investigation, the commissioner has reasonable
grounds to believe that any person has engaged or is about to engage
in any act or practice constituting a violation of any provision of
this division or any rule or order hereunder, the commissioner may,
bring an action to enjoin the acts or practices or to enforce
compliance with this law or any rule or order hereunder. The action
shall be brought in the name of the people of the State of California
in the superior court. Upon a proper showing, a permanent or
preliminary injunction, restraining order, or writ of mandate shall
be granted. A receiver, monitor, conservator, or other designated
fiduciary or officer of the court, which may include the
commissioner, may be appointed for the defendant or the defendant's
assets. Any other ancillary relief may be granted as appropriate.
A receiver, monitor, conservator, or other designated fiduciary or
officer of the court appointed by the superior court pursuant to
this section may, with the approval of the court, exercise any or all
of the powers of the defendant's officers, directors, partners,
trustees, or persons who exercise similar powers and perform similar
duties. The powers include the filing of a petition for bankruptcy.
No action at law or in equity may be maintained by any party against
the commissioner, or a receiver, monitor, conservator, or other
designated fiduciary or officer of the court, by reason of their
exercising these powers or performing these duties pursuant to the
order of, or with the approval of, the superior court.
(b) If the commissioner determines it is in the public interest,
the commissioner may include in any action authorized by subdivision
(a) a claim for ancillary relief. The ancillary relief may include,
but not be limited to, restitution or disgorgement or damages on
behalf of the persons injured by the act or practice constituting the
subject matter of the action. The court shall have jurisdiction to
award additional relief.