TITLE 30

CORPORATIONS

CHAPTER 9

IDAHO ESCROW ACT

30-920.  Remedies. (1) Whenever it appears to the director that any person has engaged in or is about to engage in any act or practice constituting a violation of any provision of this chapter or any rule or order thereunder, is conducting its business in an unsafe and injurious manner, or that its capital or assets are impaired, the director may in his discretion:

(a)  Order the person to cease and desist from the violation of any provision of this chapter, rule or order thereunder;

(b)  Issue an order revoking or suspending the licensee’s escrow agency license;

(c)  After notice and the opportunity for a hearing, except as otherwise provided in this chapter, issue an order imposing a civil penalty not to exceed five thousand dollars ($5,000) for each violation of this chapter or any rule or order thereunder;

(d)  After notice and the opportunity for a hearing, issue an order of restitution to any person for loss of money or property resulting from a violation of this chapter; and

(e)  Issue an order, pursuant to section 67-5247, Idaho Code, impounding the accounts, including all operating and trust accounts, of any licensee or person required to be licensed under this chapter.

(2)  In addition to such remedies, the director may bring an action in the fourth district court in and for Ada county or in such other court as the director deems appropriate. Upon a proper showing, the court may:

(a)  Issue a permanent or temporary injunction, restraining order, or declaratory judgment;

(b)  Order other appropriate or ancillary relief, which may include:

(i)   An asset freeze, accounting, writ of attachment, writ of general or specific execution, and appointment of a receiver or conservator, that may be the director, for the defendant or the defendant’s assets;

(ii)  Ordering the director to take charge and control of a defendant’s property, including investment accounts and accounts in a financial institution, rents and profits; to collect debts; and to acquire and dispose of property;

(c)  Issue an order of restitution to any person for loss of money or property resulting from a violation of this chapter; and

(d)  Except as otherwise provided by this chapter, impose a civil penalty not to exceed five thousand dollars ($5,000) for each violation.

(3)  The court may not require the director to post a bond.

History:

[30-920, added 2005, ch. 236, sec. 2, p. 725; am. 2008, ch. 311, sec. 3, p. 860.]