Oregon Statutes 705.642 – Injunction authority regarding conduct of banking business; penalty; attorney fees; claims for restitution, damages or disgorgement of illegal gains
(1) Whenever the Director of the Department of Consumer and Business Services determines that a person has engaged, is engaging or is about to engage in an act or practice constituting a violation of a provision of ORS § 705.638, 707.005 or 707.010 or any rule or order of the director, the director may bring suit in the name of or on behalf of the State of Oregon in the circuit court of any county of this state to enjoin the acts or practices and to enforce compliance with the provisions of ORS § 705.638, 707.005 or 707.010 or the rule or order. Upon a proper showing, the court shall grant a permanent or temporary injunction, restraining order or writ of mandamus. The court may impose a penalty against the person of not more than $20,000 for each violation, which shall be entered as a judgment and paid to the General Fund of the State Treasury. Each violation is a separate offense. In the case of a continuing violation, each day’s continuance is a separate violation, but the maximum penalty for a continuing violation may not exceed $100,000. If the court finds that the defendant has violated a provision of ORS § 705.638, 707.005 or 707.010 or a rule or order, the court may appoint a receiver, who may be the director, for the defendant or the defendant’s assets. The court may not require the director to post a bond. The court may award reasonable attorney fees to the director if the director prevails in an action under this section. The court may award reasonable attorney fees to a defendant who prevails in an action under this section if the court determines that the director had no objectively reasonable basis for asserting the claim or no reasonable basis for appealing an adverse decision of the trial court.
Terms Used In Oregon Statutes 705.642
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- Continuance: Putting off of a hearing ot trial until a later time.
- Damages: Money paid by defendants to successful plaintiffs in civil cases to compensate the plaintiffs for their injuries.
- Defendant: In a civil suit, the person complained against; in a criminal case, the person accused of the crime.
- Department: means the Department of Consumer and Business Services. See Oregon Statutes 705.010
- Director: means the Director of the Department of Consumer and Business Services. See Oregon Statutes 705.010
- Injunction: An order of the court prohibiting (or compelling) the performance of a specific act to prevent irreparable damage or injury.
- Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
- Person: includes individuals, corporations, associations, firms, partnerships, limited liability companies and joint stock companies. See Oregon Statutes 174.100
- Restitution: The court-ordered payment of money by the defendant to the victim for damages caused by the criminal action.
- State Treasury: includes those financial assets the lawful custody of which are vested in the State Treasurer and the office of the State Treasurer relating to the custody of those financial assets. See Oregon Statutes 174.100
- Trial: A hearing that takes place when the defendant pleads "not guilty" and witnesses are required to come to court to give evidence.
- Writ: A formal written command, issued from the court, requiring the performance of a specific act.
(2) The director may include either of the following in any action authorized by subsection (1) of this section:
(a) A claim for restitution 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 appropriate relief to such persons, if the court finds that enforcement of the rights of such persons by private civil action, whether by class action or otherwise, would be so burdensome or expensive as to be impractical.
(b) A claim for disgorgement of illegal gains or profits derived. Any recovery under this paragraph must be turned over to the General Fund of the State Treasury unless the court requires another disposition. [2001 c.315 § 47; 2009 c.541 § 28; 2011 c.597 § 287]
[1999 c.1082 § 1; renumbered 455.840 in 2001]
[1999 c.1082 § 3; renumbered 455.842 in 2001]
[1999 c.1082 § 4; renumbered 455.844 in 2001]
[1999 c.1082 § 5; renumbered 455.846 in 2001]
[1999 c.1082 § 7; renumbered 455.848 in 2001]
[2001 c.165 § 1; repealed by 2005 c.118 § 1]
[2001 c.165 § 2; repealed by 2005 c.118 § 1]