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§ 11-209. Asset recovery by commissioner

West's Annotated Code of MarylandCorporations and AssociationsEffective: October 1, 2021

West's Annotated Code of Maryland
Corporations and Associations
Title 11. Maryland Securities Act (Refs & Annos)
Subtitle 2. Division of Securities
Effective: October 1, 2021
MD Code, Corporations and Associations, § 11-209
§ 11-209. Asset recovery by commissioner
Actions
(a) The Commissioner may:
(1)(i) Bring a civil action for damages against a person that violates § 8-801 of the Criminal Law Article on behalf of a victim of the violation or, if the victim is deceased, the victim's estate;
(ii) Recover damages under this subsection for property loss or damage; and
(iii) If the Commissioner prevails in an action brought under this paragraph, recover the costs of the action for the use of the Office of the Attorney General; and
(2)(i) Bring a civil action for damages on behalf of a susceptible adult or older adult who is authorized to bring a cause of action under § 13-603 of the Estates and Trusts Article; and
(ii) If the Commissioner prevails in an action brought under this paragraph, recover the costs of the action for the use of the Office of the Attorney General.
Prior conviction
(b) A conviction for a violation of § 8-801 of the Criminal Law Article is not a prerequisite for maintenance of an action under subsection (a) of this section.

Credits

Added by Acts 2018, c. 794, § 1, eff. Oct. 1, 2018. Amended by Acts 2020, c. 160, § 1, eff. Oct. 1, 2020; Acts 2021, c. 3, § 1, eff. March 13, 2021; Acts 2021, c. 311, § 1, eff. Oct. 1, 2021.
MD Code, Corporations and Associations, § 11-209, MD CORP & ASSNS § 11-209
Current through legislation effective through April 9, 2023, from the 2024 Regular Session of the General Assembly. Some statute sections may be more current, see credits for details.
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