§431:4-209  Recovery of profits realized. For the purpose of preventing the unfair use of information which may have beenobtained by the beneficial owner, director, or officer by reason of theowner's, director's, or officer's relationship to the company, any profitrealized by the owner, director, or officer from any purchase and sale, or anysale and purchase, of an equity security of the company within any period ofless than six months, unless the security was acquired in good faith inconnection with a debt previously contracted, shall inure to and be recoverableby the company, irrespective of any intention on the part of the beneficialowner, director or officer in entering into the transaction of holding thesecurity purchased or of not repurchasing the security sold for a periodexceeding six months.  Suit to recover the profit may be instituted in anycourt of competent jurisdiction by the company, or by the owner of any securityof the company in the name and in behalf of the company if the company fails orrefuses to bring the suit within sixty days after request or fails diligentlyto prosecute the same thereafter; but no suit shall be brought more than twoyears after the date such profit was realized.  This section shall not beconstrued to cover any transaction where the beneficial owner was not such bothat the time of the purchase and sale, or the sale and purchase, of the securityinvolved, or any transaction or transactions which the commissioner by rulesand regulations may exempt as not comprehended within the purpose of thissection. [L 1987, c 347, pt of §2]