N.Y. Banking Law § 9-b: Actions or special proceedings by superintendent or attorney-general

§ 9-b. Actions or special proceedings by superintendent or

attorney-general.

1. In addition to any action or special proceeding which may be

maintained by either of them under any other section of this chapter,

the superintendent or the attorney-general may maintain an action or

special proceeding:

(a) To annul the corporate existence or dissolve a corporation formed

under any article of this chapter or formed under any other statute or

special act having as its purpose or among its purposes a purpose for

which a corporation may be formed under this chapter that has acted

beyond its capacity or power or to restrain it from the doing of

unauthorized business.

(b) To annul the corporate existence or dissolve any such corporation

that has not been duly formed.

(c) To restrain any person or persons from acting as such a

corporation within this state without being duly incorporated or from

exercising in this state any corporate rights, privileges or franchises

not granted to them by the law of the state.

(d) To dissolve a corporation under section nine-c.

2. In any action or special proceeding brought under this section:

(a) If an action, it is triable by jury as a matter of right.

(b) The court may confer immunity in accordance with the provisions of

section 50.20 of the criminal procedure law.

(c) A temporary restraining order to restrain the commission or

continuance of the unlawful acts which form the basis of the action or

special proceeding may be granted upon proof, by affidavit, that the

defendant or defendants have committed or are about to commit such acts.

Application for such restraining order may be made ex parte or upon such

notice as the court may direct.

(d) When final judgment in such action or special proceeding is

rendered against the defendant or defendants, the court may direct the

costs to be collected by execution against any or all of the defendants

or by order of attachment or other process against the person of any

director or officer of a corporate defendant.

(e) In connection with any such proposed action or special proceeding

the superintendent or the attorney-general may take proof and issue

subpoenas in accordance with the civil practice law and rules.