Compilation of Rules and Regulations of the State of Georgia
Department 120 - OFFICE OF COMMISSIONER OF INSURANCE, SAFETY FIRE COMMISSIONER AND INDUSTRIAL LOAN COMMISSIONER
Chapter 120-2 - RULES OF COMMISSIONER OF INSURANCE
Subject 120-2-7 - REGULATIONS REGARDING PROXIES, CONSENTS AND AUTHORIZATIONS OF DOMESTIC STOCK INSURERS SUBAGENTS, COUNSELORS, ADJUSTERS, SURPLUS LINES BROKERS, AND AGENCIES
Rule 120-2-7-.05 - Information to be Furnished to Security Holders
Current through Rules and Regulations filed through March 20, 2024
(1) No solicitation subject to this regulation shall be made unless each person solicited is concurrently furnished or has previously been furnished with a written proxy statement containing the information specified in Rule 120-2-7-.12 hereof.
(2) If the solicitation is made on behalf of the management of the insurer and relates to an annual meeting of securityholders at which directors are to be elected, each proxy statement furnished pursuant to (1) hereof shall be accompanied or preceded by an annual report (in preliminary or final form) to such securityholders containing such financial statements for the last fiscal year as are referred to in "Stockholder Information Supplement to Annual Statement" under the heading "Financial Reporting to Stockholders." Subject to the foregoing requirements with respect to financial statements, the annual report to securityholders may be in any form deemed suitable by the management.
(3) Two copies of each report sent to the securityholders pursuant to this section shall be mailed to the Commissioner, not later than the date on which such report is first sent or given to securityholders or the date on which preliminary copies of solicitation material are filed with the Commissioner pursuant to Rule 120-2-7-.07(1), whichever date is later.
(4) If no solicitation is being made by management of the insurer with respect to any annual or other meeting, such insurer shall mail to every securityholder of record at least twenty days prior to the meeting date, an information statement as required by Rule 120-2-7-.03, which would be applicable to any matter to be acted upon at the meeting if proxies were to be solicited in connection with the meeting. If such information statement relates to an annual meeting at which directors are to be elected, it shall be accompanied by an annual report to such securityholders in the form provided in subsection (2) hereof.
O.C.G.A. Sec. 33-2-9, Ch. 33-14.
