A transferee who is a nonresident of this state, and any persons acting in concert or participating with or controlling such transferee, who makes or solicits an offer to effect a transfer, or who makes an agreement to effect a transfer, shall be deemed:
1. To have agreed to be subject to the jurisdiction of the Commission and the courts of the state with respect to any action or proceeding commenced under this act;
2. To have designated the Secretary of State as the lawful agent for receipt of service of process with respect to any action or proceeding commenced under this act, if no such agent has previously been designated; and
3. To have agreed that any summons or other notice of suit or proceeding served on the Secretary of State as agent for service of process shall have the same legal force and validity as if personally served in this state, provided that the addresses of the transferee, or persons acting in concert or participating with or controlling such transferee, are known to the Commission or the Secretary of State, and the Secretary of State promptly sends notice of service and a copy of the process by registered mail to the transferee, and persons acting in concert or participating with or controlling such transferee, on or before the return day of the process, or within such further time as the Commission may allow.
Added by Laws 1985, c. 2, § 12, emerg. eff. Feb. 13, 1985.
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