An insurer or the director may petition the court in Hughes County for an order to seize or sequester any voting securities of the insurer owned directly or indirectly by a person if that person has acquired or is proposed to acquire any voting securities in violation of this chapter.
S.D. Codified Laws § 58-5A-61
Petition to seize or sequester voting securities acquired in violation of chapter
Source: SL 1992, ch 341, § 28.
Official source: South Dakota Legislature. Reproduced from public-domain South Dakota statutes; confirm against the official source for the current text. Not legal advice.