Conceptio › Archive › US Code (LII)
US Code (LII)public full text

7 U.S.C. § 2009cc-12 — Injunctions and other orders

United States Code · United States Code (via Cornell Legal Information Institute)
US Code (LII) · Legal · License: Public Domain
Open Source ↗
ordersstatuteunited-statesus-law
united states, us law, united states code, usc, statute, us federal statute, 7, 2009cc-12, 7 usc 2009cc-12, 7 u.s.c. 2009cc-12, injunctions, and, other, orders

(a) In general (1) Application by Secretary Whenever, in the judgment of the Secretary, a rural business investment company or any other person has engaged or is about to engage in any act or practice that constitutes or will constitute a violation of a provision of this subchapter (including any rule, regulation, order, or participation agreement under this subchapter), the Secretary may apply to the appropriate district court of the United States for an order enjoining the act or practice, or for an order enforcing compliance with the provision, rule, regulation, order, or participation agreement. (2) Jurisdiction; relief The court shall have jurisdiction over the action and, on a showing by the Secretary that the rural business investment company or other person has engaged or is about to engage in an act or practice described in paragraph (1), a permanent or temporary injunction, restraining order, or other order, shall be granted without bond. (b) Jurisdiction (1) In general In any proceeding under subsection (a), the court as a court of equity may, to such extent as the court considers necessary, take exclusive jurisdiction over the rural business investment company and the assets of the rural business investment company , wherever located. (2) Trustee or receiver The court shall have jurisdiction in any proceeding described in paragraph (1) to appoint a trustee or receiver to hold or administer the assets. (c) Secretary as trustee or receiver (1) Authority The Secretary may act as trustee or receiver of a rural business investment company . (2) Appointment On the request of the Secretary, the court shall appoint the Secretary to act as a trustee or receiver of a rural business investment company unless the court considers the appointment inequitable or otherwise inappropriate by reason of any special circumstances involved. ( Pub. L. 87–128, title III, § 384M , as added Pub. L. 107–171, title VI, § 6029 , May 13, 2002 , 116 Stat. 399 .) CFR Title Parts 7 4290

Related documents

Record · ID 561247 · SHA-256 c0acab5def85ee3d
Retrieved via Conceptio — every document is proof-bundled with source, license, and retrieval metadata.