Senate Bill sb2604

    Florida Senate - 2007                                  SB 2604

    By Senator Aronberg





    27-146A-07

  1                      A bill to be entitled

  2         An act relating to injunctions; amending s.

  3         517.191, F.S.; authorizing a receiver or

  4         administrator to bring certain legal actions on

  5         behalf of a defendant, without regard to

  6         wrongful acts committed by the defendant, in

  7         certain actions relating to injunctive relief

  8         involving securities transactions; providing an

  9         effective date.

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11  Be It Enacted by the Legislature of the State of Florida:

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13         Section 1.  Subsection (2) of section 517.191, Florida

14  Statutes, is amended to read:

15         517.191  Injunction to restrain violations.--

16         (2)  In addition to all other means provided by law for

17  the enforcement of any temporary restraining order, temporary

18  injunction, or permanent injunction issued in any such court

19  proceedings, the court may shall have the power and

20  jurisdiction, upon application of the office, to impound and

21  to appoint a receiver or administrator for the property,

22  assets, and business of the defendant, including, but not

23  limited to, the books, records, documents, and papers

24  appertaining thereto. The receiver or administrator may bring

25  legal actions in the name of and on behalf of the defendant,

26  without regard to any unlawful acts committed by the

27  defendant. In addition, the Such receiver or administrator,

28  when appointed and qualified, has shall have all powers and

29  duties as to custody, collection, administration, winding up,

30  and liquidation of the said property and business which are as

31  shall from time to time be conferred upon her or him by the

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CODING: Words stricken are deletions; words underlined are additions.






    Florida Senate - 2007                                  SB 2604
    27-146A-07




 1  court. In any such action, the court may issue orders and

 2  decrees staying all pending suits and enjoining any further

 3  suits affecting the receiver's or administrator's custody or

 4  possession of the said property, assets, and business, or, in

 5  its discretion, may, with the consent of the presiding judge

 6  of the circuit, require that all such suits be assigned to the

 7  circuit court judge appointing the said receiver or

 8  administrator.

 9         Section 2.  This act shall take effect July 1, 2007.

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12                          SENATE SUMMARY

13    Authorizes a receiver or an administrator to bring legal
      actions on behalf of a defendant, without regard to
14    wrongful acts committed by the defendant, in certain
      actions relating to injunctive relief involving
15    securities transactions.

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CODING: Words stricken are deletions; words underlined are additions.