Oregon Revised Statutes Chapter 705 § 705.642 — Injunction authority regarding conduct of banking business; penalty; attorney

Injunction authority regarding conduct of banking business; penalty; attorney fees; claims for restitution, damages or disgorgement of illegal gains. (1) Whenever the Director of the Department of Consumer and Business Services determines that a person has engaged, is engaging or is about to engage in an act or practice constituting a violation of a provision of ORS 705.638, 707.005 or 707.010 or any rule or order of the director, the director may bring suit in the name of or on behalf of the State of Oregon in the circuit court of any county of this state to enjoin the acts or practices and to enforce compliance with the provisions of ORS 705.638, 707.005 or 707.010 or the rule or order. Upon a proper showing, the court shall grant a permanent or temporary injunction, restraining order or writ of mandamus. The court may impose a penalty against the person of not more than $20,000 for each violation, which shall be entered as a judgment and paid to the General Fund of the State Treasury. Each violation is a separate offense. In the case of a continuing violation, each day’s continuance is a separate violation, but the maximum penalty for a continuing violation may not exceed $100,000. If the court finds that the defendant has violated a provision of ORS 705.638, 707.005 or 707.010 or a rule or order, the court may appoint a receiver, who may be the director, for the defendant or the defendant’s assets. The court may not require the director to post a bond. The court may award reasonable attorney fees to the director if the director prevails in an action under this section. The court may award reasonable attorney fees to a defendant who prevails in an action under this section if the court determines that the director had no objectively reasonable basis for asserting the claim or no reasonable basis for appealing an adverse decision of the trial court. (2) The director may include either of the following in any action authorized by subsection (1) of this section: (a) A claim for restitution or damages on behalf of the persons injured by the act or practice constituting the subject matter of the action. The court shall have jurisdiction to award appropriate relief to such persons, if the court finds that enforcement of the rights of such persons by private civil action, whether by class action or otherwise, would be so burdensome or expensive as to be impractical. (b) A claim for disgorgement of illegal gains or profits derived. Any recovery under this paragraph must be turned over to the General Fund of the State Treasury unless the court requires another disposition. [2001 c.315 §47; 2009 c.541 §28; 2011 c.597 §287]