Nebraska Statutes 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.
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Terms Used In Nebraska Statutes 44-6115.02
- Acquire: when used in connection with a grant of power or property right to any person shall include the purchase, grant, gift, devise, bequest, and obtaining by eminent domain. See Nebraska Statutes 49-801
- Director: shall mean the Director of Insurance. See Nebraska Statutes 44-103
- Insurer: shall include all companies, exchanges, societies, or associations whether organized on the stock, mutual, assessment, or fraternal plan of insurance and reciprocal insurance exchanges. See Nebraska Statutes 44-103
- Person: shall include bodies politic and corporate, societies, communities, the public generally, individuals, partnerships, limited liability companies, joint-stock companies, and associations. See Nebraska Statutes 49-801
- Sequester: To separate. Sometimes juries are sequestered from outside influences during their deliberations.
- State: when applied to different states of the United States shall be construed to extend to and include the District of Columbia and the several territories organized by Congress. See Nebraska Statutes 49-801