32-11-403. Cease and desist orders. (1) If it appears to the department that a person is engaged in or is about to engage in any act or practice constituting a violation of any provision of this chapter or any rule adopted or order issued by the department pursuant to this chapter, the department may issue an order directing the person to cease and desist from continuing the act or practice after reasonable notice and opportunity for hearing. The department may issue a temporary order pending the hearing that:
(a) remains in effect until 10 days after the hearings examiner issues proposed findings of fact and conclusions of law; or
(b) becomes final if the person to whom notice is addressed does not request a hearing within 10 days after receipt of the notice.
(2) A violation of an order issued pursuant to this section is subject to the penalty provisions of this chapter.
History: En. Sec. 42, Ch. 411, L. 2007.
Structure Montana Code Annotated
Title 32. Financial Institutions
Chapter 11. Business and Industrial Development Corporations
Part 4. Investigations and Penalties
32-11-401. Investigations -- powers -- failure to comply or testify
32-11-402. Injunction -- appointment of receiver
32-11-403. Cease and desist orders
32-11-404. Penalties -- license suspension and revocation -- restitution
32-11-405. Removal and suspension orders for certain acts
32-11-406. Removal and suspension orders in cases of indictment or conviction
32-11-407. Hearings on orders -- recision and modification
32-11-408. through 32-11-410 reserved
32-11-411. Disclosure to shareholders
32-11-412. Orders restricting additional financing assistance