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2406
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Ch. 529
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LAWS OF MARYLAND
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under §11-601(1) or (2) of this title, may not permit his
aggregate indebtedness to all other persons to exceed
2,000 percent of his net capital; but the Commissioner by
rule or order may permit any class of broker-dealers to
maintain a net capital in an amount other than $15,000 or
to increase or decrease the required percent of net
capital except that the Commissioner may not permit any
net capital or percent of net capital requirement which
is contrary to the limits set by the federal [Security
Exchange Commission] SECURITIES AND EXCHANGE COMMISSION.
11-901.
(d) "Control," including the terms ["controlling,
controlled by"] "CONTROLLING," "CONTROLLED BY" and "under
common control with," means the possession of the power
to direct or cause the direction of the management and
policies of a person unless the power is the result of an
official position or office.
11-906.
In addition to the powers of the Commissioner
specified in Subtitle 7 of this title, whenever any
person, including a controlling person of an offeror or
target company, has engaged or is about to engage in any
act or practice constituting a violation of this
subtitle or any rule or order under this subtitle, the
offeror, the target company, or any record or beneficial
owner of an equity security may bring an action in any
court of competent jurisdiction to enjoin the acts or
practices and to enforce compliance with this subtitle or
any rule or order under this subtitle. On proper
showing, the court may grant a permanent or temporary
injunction or restraining order or may order rescission
of any sales, tenders for sale, purchases, or tenders for
purchase of securities determined to be unlawful under
this subtitle or any rule or order under this subtitle.
The court may, in its [discretion; require] DISCRETION,
REQUIRE a private party to post a bond.
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SECTION 2. AND BE IT FURTHER ENACTED, That this Act
shall take effect July 1, 1977.
Approved May 17, 1977.
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CHAPTER 530
(House Bill 1216)
AN ACT concerning
Corrective Bill - Taxes
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