Section 31.12.853. Prohibited acts—Civil penalties—Rules.

(1) The department is authorized to assess civil fines to the credit union for violation of any of the following:

(a) Any material provision of this chapter or related rules;

(b) Any final or temporary order, including a cease and desist, suspension, removal, or prohibition order;

(c) Any supervisory agreement;

(d) Any condition imposed in writing in connection with the grant of any application or other request; or

(e) Any other written agreement entered into with the director.

(2) At the option of the director, a violation of this section subjects the violator to a fine of up to ten thousand dollars per violation. A continuing violation shall be considered a single violation for this purpose. The fine is payable upon issuance of any order or directive of the director, and may be recovered by the attorney general in a civil action in the name of the department.

(3) The department is authorized to adopt rules for the implementation of this section.

[ 2010 c 87 § 16.]

2010 c 87 § 16.