2017 Nebraska Revised Statutes
Chapter 44 - INSURANCE
44-6115.02 Seizure or sequestration of securities; when.
44-6115.02. Seizure or sequestration of securities; when.
In any case when a person has acquired or is proposing to acquire any voting securities in violation of the Insurers Demutualization Act or any rule, regulation, or order of the director, the district court of Lancaster County may, on such notice as the court deems appropriate, upon the application of the director or the new stock insurer seize or sequester any voting securities of the new stock insurer or an institution which owns a majority or all of the voting securities of the new stock insurer owned directly or indirectly by such person and issue such order with respect thereto as may be appropriate to effectuate the act. Notwithstanding any other provisions of law, for purposes of the act, situs of the ownership of such securities shall be deemed to be in this state.
Source
- Laws 1997, LB 52, ยง 10.
