LD 509
pg. 157
Page 156 of 183 An Act To Adopt the Maine Uniform Securities Act Page 158 of 183
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LR 441
Item 1

 
hearing if the person requesting the hearing fails to appear.__ If
a hearing is requested or ordered, the administrator, after notice
of and opportunity for hearing to each person subject to the order,
may modify or vacate the order or extend it until final
determination.

 
3.__Procedure for final order.__If a hearing is requested or
ordered pursuant to subsection 2, a hearing must be held pursuant
to the Maine Administrative Procedure Act. A final order may not
be issued unless the administrator makes findings of fact and
conclusions of law in a record in accordance with the Maine
Administrative Procedure Act. The final order may make final,
vacate or modify the order issued under subsection 1.

 
4.__Civil fine; final orders and remedies. In a final order
under subsection 3, the administrator may: order remedies
described in subsection 1; censure that person; bar that person
from association with any issuer, broker-dealer or investment
adviser in this State; or impose a civil fine not to exceed
$5,000 per violation.

 
5.__Costs.__In a final order, the administrator may charge the
actual cost of an investigation or proceeding for a violation of
this chapter or a rule adopted or order issued under this
chapter.

 
6.__Filing of certified final order with court; effect of
filing.__If a petition for judicial review of a final order is
not filed in accordance with section 16609, the administrator may
file a certified copy of the final order with the clerk of a
court of competent jurisdiction. The order so filed has the same
effect as a judgment of the court and may be recorded, enforced
or satisfied in the same manner as a judgment of the court.

 
7.__Enforcement by court; further civil fine.__If a person
does not comply with an order under this section, the
administrator may request that the Attorney General petition a
court of competent jurisdiction to enforce the order. The court
may not require the administrator to post a bond in an action or
proceeding under this section. If the court finds, after service
and opportunity for hearing, that the person was not in
compliance with the order, the court may adjudge the person in
contempt of the order. The court may impose a further civil fine
against the person for contempt in an amount not to exceed
$10,000 per violation and may grant any other relief the court
determines is just and proper in the circumstances.

 
8.__Appointment of presiding officer.__For purposes of any
hearing conducted pursuant to this section, the administrator may
appoint a qualified person to preside at the hearing and to make


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