7-U.S.C.-2009CC-12

7-U.S.C.-2009CC-12

§2009Cc-12 – §2009Cc-12. Injunctions and Other Orders

Pathway

Title 7 > Chapter 50 > Subchapter VIII > Section 2009cc-12

Details

  • Reference: Section 2009cc-12
  • Legend: §2009Cc-12 – §2009Cc-12. Injunctions and Other Orders
  • USCode Year: 2013

Provision Content

(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) of this section, 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.)

U.S. Encyclopedia of Law Coverage

7-U.S.C.-2009AA-8 in the Legal Encyclopedia: Agriculture

In this entry about 7-U.S.C.-2009AA-8, find legal reference material, bibliographies and premiere content related to agriculture in the American Encyclopedia of Law, presenting a comprehensive view of the United States agriculture-specific issues, written by authorities in the field.

7-U.S.C.-2009CC-12 in the Legal Encyclopedia: Rural

In this entry about 7-U.S.C.-2009CC-12, find legal reference material, bibliographies and premiere content related to rural in the American Encyclopedia of Law, presenting a comprehensive view of the United States rural-specific issues, written by authorities in the field.

7-U.S.C.-2009DD-5 in the Legal Encyclopedia: Investment

In this entry about 7-U.S.C.-2009DD-5, find legal reference material, bibliographies and premiere content related to investment in the American Encyclopedia of Law, presenting a comprehensive view of the United States investment-specific issues, written by authorities in the field.

Title 7 – Agriculture in the Legal Encyclopedia: Business

In this entry about Title 7 – Agriculture, find legal reference material, bibliographies and premiere content related to business in the American Encyclopedia of Law, presenting a comprehensive view of the United States business-specific issues, written by authorities in the field.

7-U.S.C.-2009BB-8 in the Legal Encyclopedia: Agricultural Credit

In this entry about 7-U.S.C.-2009BB-8, find legal reference material, bibliographies and premiere content related to agricultural credit in the American Encyclopedia of Law, presenting a comprehensive view of the United States agricultural credit-specific issues, written by authorities in the field.

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