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Alaska Statutes (Last Updated: January 11, 2017) |
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Title 06. BANKS AND FINANCIAL INSTITUTIONS. |
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Chapter 06.55. ALASKA UNIFORM MONEY SERVICES ACT. |
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Article 06.55.06. ENFORCEMENT. |
Section 06.55.607. Unlicensed persons.
Latest version.
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(a) If the department has reason to believe that a person has violated or is violating AS 06.55.101 or 06.55.201, the department may issue an order to show cause why an order to cease and desist should not issue requiring that the person cease and desist from the violation of AS 06.55.101 or 06.55.201.
(b) In an emergency, the department may petition the superior court for the issuance of a temporary restraining order.
(c) An order to cease and desist becomes effective upon service of it upon the person.
(d) An order to cease and desist remains effective and enforceable pending the completion of an administrative proceeding under AS 06.55.701 and 06.55.702.
(e) A person who is served with an order to cease and desist for violating AS 06.55.101 or 06.55.201 may petition the superior court for a judicial order setting aside, limiting, or suspending the enforcement, operation, or effectiveness of the order pending the completion of an administrative proceeding under AS 06.55.701 and 06.55.702.
(f) An order to cease and desist expires unless the department commences an administrative proceeding within 10 days after it is issued.