Arizona Revised Statutes § 6-131 Right To Sue And Defend In Actions; Liability Limitation; Award Of Fees And Other Expenses

6-131. Right to sue and defend in actions; liability limitation; award of fees and other expenses

A. The superintendent may sue and prosecute or defend in any action or proceeding in any court of this state or any other state or territory and in any court of the United States for the enforcement or protection of any right or pursuit of any remedy necessary or proper in connection with the matters committed to him for administration or in connection with any financial institution or enterprise under his supervision, or the rights, liabilities, property or assets thereof, and may obtain without bond any order necessary to enforce or protect such rights or remedies including but not limited to:

1. An order impounding records, books, documents, accounts, monies, negotiable instruments or papers and placing such articles in the possession of the superintendent until completion of all proceedings undertaken pursuant to this title.

2. An order appointing a receiver.

3. An order restoring to any person in interest any monies or property, real or personal, which may have been acquired or transferred in violation of this title.

B. Nothing in this section shall be construed to render the superintendent as such superintendent or otherwise liable to suit except as any other department or agency of the state may be liable under the general law.

C. In addition to any costs which are awarded as prescribed by statute, a court shall award fees and other expenses to the department if the department prevails by an adjudication on the merits in any action brought by the department to enforce the provisions of this title or any rule promulgated under this title. The department may apply pursuant to the applicable procedural rules for an award of attorney fees and other expenses authorized under this section and shall include as part of the application evidence of the department's eligibility for the award and the amount sought, including an itemized statement from the attorneys and experts stating the actual time expended in representing the department and the rate at which the fees were computed. As used in this subsection, " fees and other expenses" includes the reasonable expenses of expert witnesses, the reasonable cost of any study, analysis, report, test or project which is found by the court to be necessary for the preparation of the department's case and reasonable and necessary attorney fees. The department shall deposit any fees or other expenses awarded by a court in the revolving fund provided by section 6-135.

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Last modified: October 13, 2016