6.2-1537 - (Effective October 1, 2010) Authority of Attorney General; impoundment of property and receivership.
§ 6.2-1537. (Effective October 1, 2010) Authority of Attorney General;impoundment of property and receivership.
A. Whenever the Attorney General has reasonable cause to believe that (i) anyperson, not licensed under this chapter, is violating, has violated, isthreatening to violate or intends to violate any provision of this chapter orany order or regulation lawfully made pursuant to the authority of thischapter and (ii) the facts justify it, the Attorney General shall instituteand prosecute a lawsuit for monetary or injunctive relief or both in theCircuit Court of the City of Richmond, in the name of the Commonwealth. Thecourt may grant monetary relief or may enjoin and restrain or both any suchperson from engaging in or continuing any such violation or from doing anyact or acts in furtherance thereof. In any such suit a decree or order may beentered awarding such monetary relief or preliminary or final injunctiverelief as may be deemed proper.
B. In addition to all other means provided by law for the enforcement of anaward of monetary relief, a temporary restraining order, temporaryinjunction, or final injunction, the court may impound, and appoint areceiver for, (i) the property and business of the defendant, includingbooks, papers, documents, and records pertaining thereto, (ii) so muchthereof as the court deems reasonably necessary to prevent further violationof this chapter through or by means of the use of such property and business,or (iii) so much thereof as is necessary to identify borrowers who have beendamaged and the amount of their damages, and to refund the amount of any suchdamages to the borrowers pursuant to subsection C. The receiver, whenappointed and qualified, shall have such powers and duties as to custody,collection, administration, payment of debts and liquidation of the propertyand business as from time to time are conferred upon him by the court.
C. The Attorney General may seek and the circuit court may order or decreesuch other relief allowed by law, including restitution to the extentavailable to borrowers under § 6.2-1541.
D. In any action brought by the Attorney General by virtue of the authoritygranted in this section, the Attorney General shall be entitled to seekattorney fees and costs.
E. Nothing in this section shall be construed to preclude any person whosuffers a loss as a result of a violation of § 6.2-1501 from maintaining anaction to recover damages or restitution under § 6.2-1541.
F. No individual shall be entitled to refuse to testify in a suit broughtunder this section because the person's testimony would tend to incriminatesuch person or subject the individual to penalty or forfeiture. If called totestify by the Commonwealth or by the court trying the case, the individualmay not thereafter be prosecuted for any crime or subjected to any penalty orforfeiture growing out of the transaction concerning which the individualtestifies.
(Code 1950, §§ 6-322, 6-333; 1966, c. 584, §§ 6.1-303, 6.1-304; 1988, c. 186;1992, c. 9; 2010, c. 794.)