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- Alaska Statutes.
- Title 21. Insurance
- Chapter 22. Insurance Holding Companies
- Section 160. Sequestration of Voting Securities.
previous: Section 150
. Voting of Certain Securities Prohibited.
next: Section 170
. Civil Penalties For Violations.
AS 21.22.160. Sequestration of Voting Securities.
- (a) If a person has acquired or is proposing to acquire voting securities in violation of this chapter or a regulation
adopted or an order issued by the director under this chapter, the insurer or the director may make an application in
the superior court in the first judicial district or the superior court in the judicial district in which the insurer
has its principal place of business to seize or sequester any voting securities of the insurer owned directly or
indirectly by that person, and the court may issue an order with respect to those securities as may be appropriate to
effectuate this chapter. For the purposes of this chapter the situs of the ownership of the securities of domestic
insurers is considered to be in this state.
- (b) This section does not apply to a security that constitutes an acquisition covered by AS 21.22.065
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