Page:United States Statutes at Large Volume 106 Part 5.djvu/350

 106 STAT. 3988 PUBLIC LAW 102-550—OCT. 28, 1992 (A) was unjustly enriched in connection with such conduct or violation; or (B) engaged in conduct or a violation that would subject such person to a civil penalty piu'suant to section 1376(b)(3); (2) to require an enterprise to seek restitution, or to obtain reimbursement, indemnification, or guarantee against loss; (3) to restrict the growth of the enterprise; (4) to require the enterprise to dispose of any asset involved; (5) to require the enterprise to rescind agreements or contracts; (6) to require the enterprise to employ qualified officers or employees (who may be subject to approval by the Director at the direction of the Director); and (7) to require the enterprise to take such other action as the Director determines appropriate. (e) AUTHORITY TO LIMIT ACTIVITIES. — The authority to issue an order under this section or section 1372 includes the authority to place limitations on the activities or functions of the enterprise or any executive officer or director of the enterprise. (f) EFFECTIVE DATE. —An order under this section shall become effective upon the expiration of the 30-day period beginning on the service of the order upon the enterprise, executive officer, or director concerned (except in the case of an order issued upon consent, which shall become effective at the time specified therein), and shall remain effective and enforceable as provided in the order, except to the extent that the order is stayed, modified, terminated, or set aside by action of the Director or otherwise, as provided in this subtitle. 12 USC 4632. SEC. 1372. TEMPORARY CEASE-AND-DESIST ORDERS. (a) GROUNDS FOR ISSUANCE AND SCOPE.— W henever the Director determines that any conduct or violation, or threatened conduct or violation, specified in the notice of charges served upon the enterprise, executive officer, or director pursuant to section 1371 (a) or (b), or the continuation thereof, is likely— (1) to cause insolvency, (2) to cause a signincant depletion of the core capital of the enterprise, or (3) otherwise to cause irreparable harm to the enterprise, prior to the completion of the proceedings conducted pursuant to section 1371(c), the Director may issue a temporary order requiring the enterprise, executive officer, or director to cease and desist from any such conduct or violation and to teke affirmative action to prevent or remedy such insolvency, depletion, or harm pending completion of such proceedings. Such order may include any requirement authorized under section 1371(d). (b) EFFECTIVE DATE. — An order issued pursuant to subsection (a) shall become effective upon service upon the enterprise, executive officer, or director and, unless set aside, limited, or suspended by a court in proceedings pursuant to subsection (d), shall remain in effect and enforceable pending the completion of the proceedings pursuant to such notice and shall remain effective until the Director dismisses the charges specified in the notice or until superseded by a cease-and-desist order issued pursuant to section 1371. (c) INCOMPLETE OR INACCURATE RECORDS. —

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