If the department determines that a factor set out in AS 10.13.720 - 10.13.730 is true with respect to a licensee or subject person of a licensee and that the action or violation is likely to cause the insolvency or substantial dissipation of the assets or earnings of the licensee, is likely to seriously weaken the condition of the licensee, or is likely to otherwise seriously prejudice the interests of the licensee before the completion of proceedings conducted under AS 10.13.720 - 10.13.730, the department may order the licensee or subject person to cease and desist from the action or violation. The order may require the licensee or subject person to take affirmative action to correct a condition resulting from the action or violation.
Structure Alaska Statutes
Title 10. Corporations and Associations
Sec. 10.13.700. Injunction and enforced compliance; appointment of receiver or conservator.
Sec. 10.13.710. Cease and desist orders for unlicensed persons.
Sec. 10.13.720. Cease and desist orders for violations by licensees or subject persons.
Sec. 10.13.730. Cease and desist orders for unsafe and unsound acts.
Sec. 10.13.740. Other cease and desist orders.
Sec. 10.13.750. Removal, prohibition, and suspension orders for certain acts.
Sec. 10.13.770. Hearings on orders; rescission and modification.
Sec. 10.13.780. Disclosure to shareholders.
Sec. 10.13.790. Meetings of directors and shareholders called by department.
Sec. 10.13.800. Orders restricting additional financing assistance.