Revised Code of Washington - RCW Title 21 Securities And Investments - Section 21.20.734 Debenture companies -- Temporary cease and desist orders

§ 21.20.734. Debenture companies -- Temporary cease and desist orders

Whenever the director determines that any violation, act, or practice specified in RCW 21.20.732 or its continuation is likely to cause insolvency or substantial dissipation of assets or earnings of the debenture company or to otherwise seriously prejudice the interests of its security holders, the director may also issue a temporary order requiring the debenture company and its directors, officers, controlling persons, employees, and agents to cease and desist from the violation, act, or practice. The order shall become effective upon service on the debenture company and shall remain effective pending the completion of the administrative proceedings under the notice and until such time as the director dismisses the charges specified in the notice or until the effective date of a cease and desist order issued against the debenture company under RCW 21.20.732.

[1988 c 244 § 6; 1987 c 421 § 8.]

Notes:
     Severability -- Effective date -- Implementation -- Application -- 1988 c 244: See notes following RCW 21.20.700.

     Effective date -- Application -- Severability -- 1987 c 421: See notes following RCW 21.20.705.

Sections:  Previous  21.20.715  21.20.717  21.20.720  21.20.725  21.20.727  21.20.730  21.20.732  21.20.734  21.20.740  21.20.745  21.20.750  21.20.800  21.20.805  21.20.810  21.20.815  Next

Last modified: April 7, 2009