2006 Louisiana Laws - RS 12:130.2 — Intentional misconduct; injunctive relief; civil penalty

§130.2.  Intentional misconduct; injunctive relief; civil penalty

A.  Any person who is found by a court to be liable for intentional misconduct under this Part shall be subject to the penalties of this Section, regardless of whether the person is or is not involved in the administration of the safeguarded entity.  Person as referred to in this Section includes any individual, partnership, unincorporated association of individuals, joint stock company, or corporation.  

B.  Any interested person may petition a court for injunctive relief on the basis of another person's intentional misconduct, provided that he can show the intentional misconduct will cause irreparable harm to the interested person or to the safeguarded entity.  

C.  Any person whose intentional misconduct causes the insolvency of a safeguarded entity shall oblige the person by whose misconduct caused the insolvency to restore the safeguarded entity to a condition of solvency.  If such intentional misconduct causes damage to any interested person, the person whose conduct caused the damage shall be obliged to repair it, as ordered by any court, including the payment of prejudgment interest and reasonable attorney's fees.  

D.  Jurisdiction for the enforcement of this Section shall be in accordance with the provisions contained in Article 42 of the Louisiana Laws of Civil Procedure.  

Acts 1991, No. 914, §1, eff. July 23, 1991.