§431:11-110  Injunctions; prohibitions
against voting securities; sequestration of voting securities.  (a) 
Whenever it appears to the commissioner that any insurer or any director,
officer, employee, or agent thereof has committed or is about to commit a
violation of this article or of any rule or order issued by the commissioner
hereunder, the commissioner may apply to the circuit court of the first
judicial circuit for an order enjoining the insurer or the director, officer,
employee, or agent thereof from violating or continuing to violate this article
or any rule or order, and for other equitable relief as the nature of the case
and the interest of the insurer's policyholders, creditors, and shareholders or
the public may require.



(b)  No security which is the subject of any
agreement or arrangement regarding acquisition, or which is acquired or to be
acquired, in contravention of the provisions of this article or of any rule or
order issued by the commissioner hereunder may be voted at any shareholders'
meeting, or may be counted for quorum purposes, and any action of shareholders
requiring the affirmative vote of a percentage of shares may be taken as though
the securities were not issued and outstanding.  No action taken at any such
meeting shall be invalidated by the voting of the securities, unless the action
would materially affect control of the insurer or unless the courts of this
State have so ordered.  If an insurer or the commissioner has reason to believe
that any security of the insurer has been or is about to be acquired in
contravention of the provisions of this article or of any rule or order issued
by the commissioner hereunder the insurer or the commissioner may apply to the
circuit court of the first judicial circuit to enjoin any offer, request,
invitation, agreement, or acquisition made in contravention of section
431:11-104 or any rule or order issued by the commissioner thereunder to enjoin
the voting of any security so acquired, to void any vote of the security
already cast at any meeting of shareholders and for such other equitable relief
as the nature of the case and the interest of the insurer's policyholders,
creditors, and shareholders or the public may require.



(c)  In any case where a person has acquired or
is proposing to acquire any voting securities in violation of this article or
any rule or order issued by the commissioner hereunder, the circuit court of
the first judicial circuit may, on such notice as the court deems appropriate,
upon the application of the insurer or the commissioner seize or sequester any
voting securities of the insurer owned directly or indirectly by the person,
and issue an order with respect thereto as may be appropriate to effectuate the
provisions of this article.



Notwithstanding any other provisions of law,
for the purposes of this article, the sites of the ownership of the securities
of domestic insurers shall be deemed to be in this State. [L 1987, c 349, pt of
§8]