Enforcement; Judicial Sale

(a) A prohibited foreign-party-controlled business that acquires real estate in violation of this article shall divest that interest within six months of acquisition. (b) If the business fails to divest, the Attorney General shall file a civil action in the circuit court of the county where the real estate is located. (c) Upon a circuit court finding by a preponderance of the evidence that a violation of the provisions of this article have occurred, the circuit court shall order the real estate to be sold through judicial sale under terms and conditions that are to be set by the circuit court. (d) Proceeds of the sale shall first be distributed to lienholders according to priority, excluding liens that remain on the real estate under the terms of the sale, and any remaining funds shall be remitted to the prohibited foreign party. Lienholders may credit bid at the sale. (e) If there are no liens against the property, then the full proceeds shall be remitted to the prohibited foreign party. (f) The Attorney General shall promptly file in the office of the county clerk where the real estate is located the following: (1) A notice of the pending action in the county in which the real estate is located upon commencement of the civil action filed pursuant to this article; and (2) Once all appellate rights have been exhausted by the parties, the circuit court’s final order that directs the sale of the real estate.