I. [Repealed.]
II. If it appears that any person has engaged or is about to engage in any false, deceptive or misleading advertising to offer or dispose of any lot, parcel, unit or interest in subdivided lands, the attorney general may require by written notice the filing of advertising material relating to such subdivided lands prior to its distribution.
III. If it appears that a person has engaged or is about to engage in an act or practice constituting a violation of a provision of this chapter or a rule or order hereunder, the attorney general, with or without prior administrative proceedings, may bring an action in the superior court to enjoin the acts or practices and to enforce compliance with this chapter or any rule or order hereunder. Upon proper showing, injunctive relief or temporary restraining orders shall be granted, and a receiver may be appointed pursuant to paragraph III-a. The attorney general is not required to post a bond in any court proceedings.
III-a. In connection with any action brought under paragraph III, the attorney general may also petition the court to appoint a receiver to take charge of the business of any person during the course of litigation when the attorney general has reason to believe that such an appointment is necessary to prevent such person from continuing to engage in any act or practice declared unlawful by this chapter and to preserve the assets of said person to restore to any other person any money or property, acquired by any unlawful act or practice. The receiver shall have the authority to sue for, collect, receive and take into his possession all the goods and chattels, rights and credits, moneys and effects, lands and tenements, books, records, documents, papers, choses in action, bills, notes and property of every description, including property with which such property has been mingled if it cannot be identified in kind because of such commingling, derived by means of any unlawful act or practice, and to sell, convey and assign the same and hold, dispose and distribute the proceeds thereof under the direction of the court. Any person who has suffered damages as a result of the use of any unlawful act or practice and submits proof to the satisfaction of the court that he has in fact been damaged may participate with general creditors in the distribution of the assets to the extent that he has sustained out-of-pocket losses. In the case of a partnership or business entity, the receiver shall settle the estate and distribute the assets under the direction of the court. The court shall have jurisdiction of all questions arising in such proceedings and may make such orders and judgments therein as may be required. In lieu of the foregoing procedure, the court may permit any person alleged to have violated this chapter to post a bond in a manner and in an amount to be fixed by the court. Said bond shall be made payable to the state and may be distributed by the court only after a decision on the merits and the process of appeals has been exhausted.
IV. The attorney general may intervene in any suit involving subdivided lands alleging violation of this chapter. In any such suit by or against a subdivider involving subdivided lands, the subdivider promptly shall furnish the attorney general notice of the suit and copies of all pleadings.
V. The attorney general may:
(a) Accept registrations filed in other states, in lieu of the filing required by this chapter upon the filing of a fee of $100;
(b) Contract with similar agencies in this state or other jurisdictions to perform investigative functions;
(c) Accept grants in aid from any source.
VI. The attorney general may cooperate with similar agencies in other jurisdictions to establish uniform filing procedures and forms, uniform public offering statements, advertising standards, rules and common administrative practices.
Source. 1970, 55:1. 1977, 469:21, 22. 1985, 300:7, I(b), 16, eff. Jan. 1, 1986; 300:30, eff. July 1, 1987.