Nebraska § 44-2142 Seizure or sequestration of voting securities

Nebraska Statutes

§ 44-2142 — Seizure or sequestration of voting securities

Nebraska § 44-2142

Ch. 44Insurance

This text of Nebraska § 44-2142 (Seizure or sequestration of voting securities) is published on Counsel Stack Legal Research, covering Nebraska primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Neb. Rev. Stat. § 44-2142 (2026).

Text

In any case when a person has acquired or is proposing to acquire any voting securities in violation of the Insurance Holding Company System 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 insurer or the director seize or sequester any voting securities of the 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 the sites of the ownership of the securities of domestic insurers shall be deemed to be in this state.

Free access — add to your briefcase to read the full text and ask questions with AI

In any case when a person has acquired or is proposing to acquire any voting securities in violation of the Insurance Holding Company System 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 insurer or the director seize or sequester any voting securities of the 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 the sites of the ownership of the securities of domestic insurers shall be deemed to be in this state.

National American Insurance Company, a Nebraska Corporation, Timothy J. Hall, Director of the Nebraska Department of Insurance, Intervenor Below-Appellee v. Centra, Inc., a Delaware Corporation Can-Am Investments Limited, a Bahamian Corporation Ammex, Inc., a Michigan Corporation Durarock Underwriters, Ltd., a Barbados Registered Corporation Manual J. Moroun, an Individual Manual J. Moroun, Custodian of the Manual J. Moroun Trust for the Benefit of Matthew T. Moroun, Agnes A. Moroun, an Individual Agnes A. Moroun, Trustee for the M.J. Moroun Irrevocable Trust for Matthew T. Moroun Dean Witter Trust, Inc., a Corporation, National American Insurance Company, a Nebraska Corporation, Timothy J. Hall, Director of the Nebraska Department of Insurance, Intervenor Below-Appellee v. Centra, Inc., a Delaware Corporation Can-Am Investments Limited, a Bahamian Corporation Ammex, Inc., a Michigan Corporation Durarock Underwriters, Ltd., a Barbados Registered Corporation Manual J. Moroun, an Individual Manuel J. Moroun, Custodian of the Manual J. Moroun Trust for the Benefit of Matthew T. Moroun, Agnes A. Moroun, an Individual Agnes A. Moroun, Trustee for the M.J. Moroun Irrevocable Trust for Matthew T. Moroun, Dean Witter Trust, Inc., a Corporation, National American Insurance Company, a Nebraska Corporation, Timothy J. Hall, Director of the Nebraska Department of Insurance, Intervenor Below-Appellee v. Centra, Inc., a Delaware Corporation Can-Am Investments Limited, a Bahamian Corporation Ammex, Inc., a Michigan Corporation Durarock Underwriters, Ltd., a Barbados Registered Corporation Manual J. Moroun, an Individual Manual J. Moroun, Custodian of the Manual J. Moroun Trust for the Benefit of Matthew T. Moroun, Agnes A. Moroun, an Individual Agnes A. Moroun, Trustee for the M.J. Moroun Irrevocable Trust for Matthew T. Moroun Dean Witter Trust, Inc., a Corporation

151 F.3d 780 (Eighth Circuit, 1998)

1 case citations