P.R. Laws tit. 10, § 785

2019-02-20 00:00:00+00
§ 785. Injunctions

(a) Whenever the Commissioner deems that a person has engaged or is about to engage in any act or practice that constitutes a violation of any provision of this chapter, or any regulation or order promulgated pursuant to the provisions thereof, he/she may establish proceedings at the Court of First Instance, Superior Part, at his/her discretion, to prohibit such acts or practices, and to enforce compliance with the provisions of this chapter or any regulation or order promulgated thereunder. Upon presentation of satisfactory proof, the court may issue a permanent or temporary injunction, writ of prohibition or mandamus, and a receiver or curator may be appointed on behalf of the defendant or the defendant’s assets. The Commissioner shall not be bound to set bail.

(b) None of the provisions of this chapter shall in any way limit the powers conferred to the Commissioner under § 2001 of Title 7, known as the “Financial Institutions Commissioner’s Office Act”.

(c) No injunction shall issue to stay the application of this chapter or of the regulations approved hereunder.

History —June 19, 1964, No. 68, p. 192, § 4015, renumbered as § 415 on May 31, 1972, No. 78, p. 171, § 18; Aug. 17, 1989, No. 69, p. 301, § 20; renumbered as § 512 and amended on Dec. 23, 1998, No. 310, § 23, eff. 60 days after Dec. 23, 1998.