§ 26.1-06-10 — Enforcement - Enjoining violations

North Dakota § 26.1-06-10

• Jurisdiction: North Dakota
• Title 26.1: Insurance
• Ch. 26.1-06: Takeover Bids for Domestic Companies

Text

If at a hearing before the commissioner, the commissioner determines that the offeror has
violated this chapter, or the commissioner's rules administering this chapter, the commissioner
shall issue and cause to be served on the offeror an order requiring the offeror to cease and
desist from the violation and may issue and cause to be served on the offeror an order
preventing the offeror from making any further tender offers, and may take any affirmative action
as will effectuate the policies of this chapter.
The commissioner may petition any district court of this state for the enforcement of the
order and for appropriate temporary relief or restraining order and shall file in the court the
record of the proceedings. Upon the filing of the petition, the court must serve notice upon the
offeror and thereupon has jurisdiction of the proceeding and of the question determined therein
and may grant the temporary relief or restraining order as it deems just and proper, and to make
and enter a decree enforcing, modifying, and enforcing as so modified, or for setting aside in
whole or in part the order. The court must enforce the order unless it finds that the order was not
in accordance with law, that it was in violation of the constitutional rights of the offeror, that the
commissioner's rules or procedure did not afford the offeror a fair hearing, that the
commissioner's findings of fact were not supported by the evidence, or that the order was not
supported by the findings of fact.