26 LAWS OF MARYLAND [CH. 1

obedience to the subpoena of the Commissioner or any officer desig-
nated by him, or in any proceeding instituted by the Commissioner,
on the ground that the testimony or (evidence (documentary or other-
wise) required of him may tend to incriminate him or subject him to
a penalty or forfeiture; but no individual may be prosecuted or sub-
jected to any penalty or forfeiture for or on account of any trans-
action, matter, or thing concerning which he is compelled, after
claiming his privilege against self-incrimination, to testify or produce
evidence (documentary or otherwise), except that the individual
testifying is not exempt from prosecution and punishment for per-
jury or contempt committed in testifying.

§ 32. Injunctions.

Whenever it appears to the Commissioner that any person has en-
gaged or is about to engage in any act or practice constituting a vio-
lation of any provision of this act or any rule or order hereunder, he
may in his discretion bring an action in the circuit court of the City
or county in which such person resides or transacts business to en-
join the acts or practices and to enforce compliance with this act or
any rule or order hereunder. Upon a proper showing a permanent
or temporary injunction or restraining order shall be granted and a
receiver or conservator may be appointed for the defendant or the
defendant's assets. The court may not require the Commissioner to
post a bond.

§ 33. Criminal Penalties.

(a) Any person who willfully violates any provision of this act
except section 28, or who willfully violates any rule or order under
this act, or who willfully violates section 28 knowing the statement
made to be false or misleading in any material respect, shall upon
conviction be fined not more than $5, 000 or imprisoned, in the
penitentiary or such other legal place of confinement as the court may
determine, not more than three years,, or both; but no person may
be imprisoned for the violation of any rule or order if he proves that
he had no knowledge of the rule or order. No indictment or in-
formation may be returned under this act more than five years after
the alleged violation.

(b) The Commissioner may refer such evidence as is available
concerning violations of this act or of any rule or order hereunder to
the State's Attorney who may, with or without such a reference, in-
stitute the appropriate criminal proceedings under this act.

(c) Nothing in this act limits the power of the state to punish any
person for any conduct which constitutes a crime by statute or at com-
mon law.

'§ 34. Civil Liabilities,
(a) Any person who

(1) offers or sells a security in violation of section 15(a), 19, or
29(b), or of any rule or order under section 27 which requires the

affirmative approval of sales literature before it is used, or

(2) offers or sells a security by means of any untrue statement of
a material f act or any omission to state a material fact necessary