Investigation by Commissioner; powers of Commissioner; injunctive relief; enforcement of subpoenas.
1. The Commissioner may conduct an investigation if it appears that an escrow agent or agency is conducting business in an unsafe and injurious manner or in violation of this chapter or if it appears that any person is engaging in the escrow business without being licensed pursuant to the provisions of this chapter.
2. If upon investigation it appears that the agent or agency is so conducting business or an unlicensed person is engaged in the escrow business, the Commissioner may:
(a) Order the person to discontinue conducting business in an injurious manner or in violation of this chapter. A person may, within 30 days after receiving the order, file a verified petition with the Commissioner for a hearing. If the Commissioner does not hold a hearing within 30 days after the petition is filed or issue a written decision within 45 days after the hearing is held, the order is rescinded.
(b) So advise the district attorney of the county in which the business is conducted or the Attorney General. The district attorney or the Attorney General shall cause the appropriate legal action to be taken to enjoin the operation of the business or prosecute the violations of this chapter.
(c) Bring suit in the name and on behalf of the State of Nevada against the person and any other person concerned in or in any way participating in or about to participate in the unsafe or injurious practices or action in violation of this chapter or regulations thereunder to enjoin that person from continuing those practices or engaging therein or doing any such act.
3. If the Commissioner brings suit, the district court of any county of this state may grant an injunction to prevent and restrain the unsafe, injurious or illegal practices or transactions. The court may, during the pendency of the proceedings before it, issue such temporary restraining orders as may appear to be just and proper. The findings of the Commissioner shall be deemed to be prima facie evidence and sufficient ground, in the discretion of the court, for the issuance ex parte of a temporary restraining order. In any such court proceedings the Commissioner may apply for and on due showing is entitled to have issued the court’s subpoena requiring forthwith the appearance of any defendant and his employees and the production of documents, books and records as may appear necessary for the hearing of the petition, to testify and give evidence concerning the acts or conduct or things complained of in the application for injunction.
Last modified: February 27, 2006