Title 7 — AgricultureRelease 119-73

§2009cc–12 Injunctions and other orders

Title 7 › Chapter CHAPTER 50— - AGRICULTURAL CREDIT › Subchapter SUBCHAPTER VIII— - RURAL BUSINESS INVESTMENT PROGRAM › § 2009cc–12

Last updated Apr 6, 2026|Official source

Summary

The Secretary can ask a federal court to stop a rural business investment company or any person from breaking this law or its rules, orders, or participation agreements. If the Secretary shows someone has broken or is about to break the law, the court must issue a temporary or permanent order to stop the action or force compliance, and it can do so without requiring a bond. The court can take full control of the company and its property, wherever located, and can appoint a trustee or receiver to manage those assets. The Secretary may act as that trustee or receiver, and the court must appoint the Secretary on request unless there are special reasons not to.

Full Legal Text

Title 7, §2009cc–12

Agriculture — Source: USLM XML via OLRC

(a)(1)Whenever, in the judgment of the Secretary, a rural business investment company or any other person has engaged or is about to engage in any act or practice that constitutes or will constitute a violation of a provision of this subchapter (including any rule, regulation, order, or participation agreement under this subchapter), the Secretary may apply to the appropriate district court of the United States for an order enjoining the act or practice, or for an order enforcing compliance with the provision, rule, regulation, order, or participation agreement.

(2)The court shall have jurisdiction over the action and, on a showing by the Secretary that the rural business investment company or other person has engaged or is about to engage in an act or practice described in paragraph (1), a permanent or temporary injunction, restraining order, or other order, shall be granted without bond.

(b)(1)In any proceeding under subsection (a), the court as a court of equity may, to such extent as the court considers necessary, take exclusive jurisdiction over the rural business investment company and the assets of the rural business investment company, wherever located.

(2)The court shall have jurisdiction in any proceeding described in paragraph (1) to appoint a trustee or receiver to hold or administer the assets.

(c)(1)The Secretary may act as trustee or receiver of a rural business investment company.

(2)On the request of the Secretary, the court shall appoint the Secretary to act as a trustee or receiver of a rural business investment company unless the court considers the appointment inequitable or otherwise inappropriate by reason of any special circumstances involved.

Reference

Citations & Metadata

Citation

7 U.S.C. § 2009cc–12

Title 7 — Agriculture

Last Updated

Apr 6, 2026

Release point: 119-73