LD 509
pg. 72
Page 71 of 94 PUBLIC Law Chapter 65 Page 73 of 94
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LR 441
Item 1

 
2.__Administrator powers to investigate.__For the purpose of an
investigation under this chapter, the administrator or the
administrator's designated officer may administer oaths and
affirmations, subpoena witnesses, seek compulsion of attendance,
take evidence, require the filing of statements and require the
production of any records that the administrator considers relevant
or material to the investigation.__It is unlawful to fail to
provide any statement or record if requested.

 
3.__Procedure and remedies for noncompliance.__If a person
does not appear or refuses to testify, file a statement or
produce records or otherwise does not obey a subpoena as required
by the administrator under this chapter, the administrator may
request that the Attorney General apply to either the Superior
Court located in Kennebec County or the Superior Court where
service may be obtained on the person refusing to testify or
produce or a court of another state to enforce compliance. The
court may:

 
A.__Hold the person in contempt;

 
B.__Order the person to appear before the administrator;

 
C.__Order the person to testify about the matter under
investigation or in question;

 
D.__Order the production of records;

 
E.__Grant injunctive relief, including restricting or
prohibiting the offer or sale of securities or the providing
of investment advice;

 
F.__Impose a civil fine not to exceed $10,000 per violation;
and

 
G.__Grant any other necessary or appropriate relief.

 
4.__Application for relief.__This section does not preclude a
person from applying to the Superior Court located in Kennebec
County or a court of another state for relief from a request to
appear, testify, file a statement, produce records or obey a
subpoena.

 
5.__Assistance to securities regulator of another
jurisdiction.__At the request of the securities regulator of
another state or a foreign jurisdiction, the administrator may
provide assistance if the requesting regulator states that it is
conducting an investigation to determine whether a person has
violated, is violating or is about to violate a law or rule of


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