Upon the third violation of any of the provisions of sections 481-1 to 481-7 by any corporation, each of such violations having been proved in a separate court
action, the attorney general shall institute proper action in a court of competent
jurisdiction to forfeit the charter, rights, franchises, or privileges and powers
exercised by the corporation, and to permanently enjoin it from transacting business
in the State. If in such action the court finds that the corporation is violating or has violated
any of the provisions of sections 481-1 to 481-7, it shall enjoin the corporation from doing business in the State permanently or
for such time as the court shall order, or annul the charter, or revoke the franchise
of the corporation.
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