2012 US Code
Title 7 - Agriculture
Chapter 50 - AGRICULTURAL CREDIT (§§ 1921 - 2009ee-3)
Subchapter VIII - RURAL BUSINESS INVESTMENT PROGRAM (§§ 2009cc - 2009cc-18)
Section 2009cc-12 - Injunctions and other orders
Publication Title | United States Code, 2012 Edition, Title 7 - AGRICULTURE |
Category | Bills and Statutes |
Collection | United States Code |
SuDoc Class Number | Y 1.2/5: |
Contained Within | Title 7 - AGRICULTURE CHAPTER 50 - AGRICULTURAL CREDIT SUBCHAPTER VIII - RURAL BUSINESS INVESTMENT PROGRAM Sec. 2009cc-12 - Injunctions and other orders |
Contains | section 2009cc-12 |
Date | 2012 |
Laws in Effect as of Date | January 15, 2013 |
Positive Law | No |
Disposition | standard |
Source Credit | Pub. L. 87-128, title III, §384M, as added Pub. L. 107-171, title VI, §6029, May 13, 2002, 116 Stat. 399. |
Statutes at Large Reference | 116 Stat. 399 |
Public Law References | Public Law 87-128, Public Law 107-171 |
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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; reliefThe 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 generalIn 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 receiverThe 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) AuthorityThe Secretary may act as trustee or receiver of a rural business investment company.
(2) AppointmentOn 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.)
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