Alabama Administrative Code
Title 482 - ALABAMA DEPARTMENT OF INSURANCE
Chapter 482-1-042 - PROXIES, CONSENTS AND AUTHORIZATIONS OF DOMESTIC STOCK INSURERS
Section 482-1-042-.10 - Mailing Communications For Security Holders
Current through Register Vol. 42, No. 5, February 29, 2024
If the management of the issuer has made or intends to make any solicitation subject to this chapter, the issuer shall perform such of the following acts as may be duly requested in writing with respect to the same subject matter or meeting by any security holder who is, or security holders who are, entitled to vote at least one percent of the votes entitled to be voted on such matter and who shall defray the reasonable expenses to be incurred by the issuer in the performance of the act or acts requested.
(a) The issuer shall mail or otherwise furnish to such security holder, as promptly as practicable after the receipt of such request:
(b)
(c) In lieu of performing the acts specified above, the issuer may, at its option, furnish promptly to such security holder a reasonably current list of the names and addresses of such of the record owners and, to the extent known to the issuer, the beneficial owners as the security holder shall designate and a schedule of the handling and mailing costs if such schedule has been supplied to the issuer.
Author: Commissioner of Insurance
Statutory Authority: Code of Ala. 1975, §§ 27-2-7, 27-2-17, 27-29-8.