Current through Rules and Regulations filed through March 20, 2024
(1) Revocability of Proxy. State whether or
not a person giving the proxy has the power to revoke it. If the right of
revocation before the proxy is exercised is limited or is subject to compliance
with any formal procedure, briefly describe such limitation or
procedure.
(2) Dissenters' Rights
of Appraisal. Outline briefly the rights of appraisal or similar rights of
dissenting securityholders with respect to any matter to be acted upon and
indicate any statutory procedure required to be followed by such
securityholders in order to perfect their rights. Where such rights may be
exercised only within a limited time after the date of the adoption of a
proposal, the filing of a charter amendment, or other similar act, state
whether the person solicited will be notified of such date.
(3) Persons Making Solicitations Not Subject
to Rule 120-2-7-.11.
(a) If the solicitation is made by the
management of the insurer, so state. Give the name of any director of the
insurer who has informed the management in writing that he intends to oppose
any action intended to be taken by the management and indicate the action which
he intends to oppose.
(b) If the
solicitation is made otherwise than by the management of the insurer, state the
names and addresses of the persons by whom and on whose behalf it is made and
the names and addresses of the persons by whom the cost of solicitation has
been or will be borne, directly or indirectly.
(c) If the solicitation is to be made by
specially engaged employees or paid solicitors, state
1. the material features of any contract or
arrangement for such solicitation and identify the parties, and
2. the cost or anticipated cost
thereof.
(4)
Interest of Certain persons in matters to be acted upon. Describe briefly any
substantial interest, direct or indirect, by securityholdings or otherwise, of
any director, nominee for election as director, officer and, if the
solicitation is made otherwise than on behalf of management, each person on
whose behalf the solicitation is made, in any matter to be acted upon other
than elections to office.
(5)
Securities and Principal Securityholders.
(a)
State, as to each class of voting security of the insurer entitled to be voted
at the meeting, the number of shares outstanding and the number of votes to
which each class is entitled.
(b)
Give the date as of which the record list of securityholders entitled to vote
at the meeting will be determined. If the right to vote is not limited to
securityholders of record on that date, indicate the conditions under which
other securityholders may be entitled to vote.
(c) If action is to be taken with respect to
the election of directors and if the persons solicited have cumulative voting
rights, make a statement that they have such rights and state briefly the
conditions precedent to the exercise thereof.
(6) Nominees and Directors. If action is to
be taken with respect to the election of directors furnish the following
information, in tabular form to the extent practicable with respect to each
person nominated for election as a director and each other person whose term of
office as a director will continue after the meeting.
(a) Name each such person, state when his
term of office or the term of office for which he is a nominee will expire, and
all other positions and offices with the insurer presently held by him, and
indicate which persons are nominees for election as directors at the
meeting.
(b) State his present
principal occupation or employment and give the name and principal business of
any corporation or other organization in which such employment is carried on.
Furnish similar information as to all of his principal occupations or
employments during the last five years, unless he is now a director and was
elected to his present term of office by a vote of securityholders at a meeting
for which proxies were solicited under this regulation.
(c) If he is or has previously been a
director of the insurer, state the period or periods during which he has served
as such.
(d) State, as of the most
recent practicable date, the approximate amount of each class of securities of
the insurer or any of its parents, subsidiaries or affiliates other than
directors' qualifying shares, beneficially owned directly or indirectly by him.
If he is not the beneficial owner of any such securities make a statement to
that effect.
(7)
Remuneration and other transactions with management and others. Furnish the
information reported or required in Item One of "Stockholder Information
Supplement to Annual Statement" under the heading "Information Regarding
Management and Directors" if action is to be taken with respect to
(a) the election of directors,
(b) any renumeration plan, contract or
arrangement in which any director, nominee for election as a director, or
officer of the insurer will participate,
(c) any pension or retirement plan in which
any such person will participate, or
(d) the granting or extension to any such
person of any options, warrants or rights to purchase any securities, other
than warrants or rights issued to securityholders, as such, on a pro rata
basis. If the solicitation is made on behalf of persons other than the
management information shall be furnished only as to Item One-A of the
aforesaid heading of "Stockholder Information Supplement to Annual
Statement."
(8) Bonus,
profit sharing and other remuneration plans. If action is to be taken with
respect to any bonus, profit sharing, or other remuneration plan, of the
insurer furnish the following information:
(a)
a brief description of the material features of the plan, each class of persons
who will participate therein, the approximate number of persons in each such
class, and the basis of such participation,
(b) the amounts which would have been
distributable under the plan during the last calendar year to
1. each person named in subsection (7)
hereof,
2. directors and officers
as a group, and
3. to all other
employees as a group, if the plan had been in effect,
(c) if the plan to be acted upon may be
amended (other than by a vote of securityholders) in a manner which would
materially increase the cost thereof to the insurer or to materially alter the
allocation of the benefits as between the groups specified in paragraph (b) of
this subsection, the nature of such amendments should be specified.
(9) Pension and retirement plan.
If action is to be taken with respect to any pension or retirement plan of the
insurer, furnish the following information:
(a) a brief description of the material
features of the plan, each class of persons who will participate therein, the
approximate number of persons in each such class, and the basis of such
participation,
(b) state
1. the approximate total amount necessary to
fund the plan with respect to past services, the period over which such amount
is to be paid, and the estimated annual payments necessary to pay the total
amount over such period;
2. the
estimated annual payment to be made with respect to current services;
and
3. the amount of such annual
payments to be made for the benefit of
(i)
each person named in subsection (7) hereof,
(ii) directors and officers as a group,
and
(iii) employees as a
group,
(c) if
the plan to be acted upon may be amended (other than by a vote of
securityholders) in a manner which would materially increase the cost thereof
to the insurer or to materially alter the allocation of the benefits as between
the groups specified in sub-paragraph (b)(3) of this subsection, the nature of
such amendments should be specified.
(10) Options, Warrants, or Rights. If action
is to be taken with respect to the granting or extension of any options,
warrants or rights (all referred to herein as "warrants") to purchase
securities of the insurer or any subsidiary or affiliate, other than warrants
issued to all securityholders on a pro rata basis, furnish the following
information:
(a) the title and amount of
security called for or to be called for, the prices, expiration dates and other
material conditions upon which the warrants may be exercised, the consideration
received or to be received by the insurer, subsidiary or affiliate for the
granting or extension of the warrants and the market value of the security
called for or to be called for by the warrants, as of the latest practicable
date,
(b) if known, state
separately the amount of securities called for or to be called for by warrants
received or to be received by the following person, naming each such person:
1. each person named in subsection (7),
and
2. each other person who will
be entitled to acquire five percent or more of the securities called for or to
be called for by such warrants,
(c) if known, state also the total amount of
securities called for or to be called for by such warrants, received or to be
received by all directors and officers of the company as a group and all
employees, without naming them.
(11) Authorization of issuance of securities.
(a) if action is to be taken with respect to
the authorization or issuance of any security of the insurer furnish the title,
amount and description of the security to be authorized or issued,
(b) if the securities are other than
additional shares of common stock of a class outstanding, furnish a brief
summary of the following, if applicable: dividend, voting, liquidation,
preemptive, and conversion rights, redemption and sinking fund provisions,
interest rate and date of maturity,
(c) if the securities to be authorized or
issued are other than additional shares of common stock of a class outstanding,
the Commissioner may require financial statements comparable to those contained
in the annual report.
(12) Mergers, Consolidations, Acquisitions
and Similar Matters.
(a) if action is to be
taken with respect to merger, consolidation, acquisition, or similar matter,
furnish in brief outline the following information:
1. the rights of appraisal or similar of
dissenters with respect to any matters to be acted upon. Indicate any procedure
required to be followed by dissenting securityholders in order to perfect such
rights,
2. the material features of
the plan or agreement,
3. the
business done by the company to be acquired or whose assets are being
acquired,
4. if available, the high
and low sales prices for each quarterly period within two years,
5. the percentage of outstanding shares which
must approve the transaction before it is consummated,
(b) for each company involved in a merger,
consolidation or acquisition, the following financial statements should be
furnished:
1. a comparative balance sheet as
of the close of the last two fiscal years,
2. a comparative statement of operating
income and expenses for each of the last two fiscal years and, as a
continuation of each statement, a statement of earning per share after related
taxes and cash dividends paid per share,
3. a pro forma combined balance sheet and
income and expense statement for the last fiscal year giving effect to the
necessary adjustments with respect to the resulting company.
(13) Restatement of
accounts. If action is to be taken with respect to the restatement of any
asset, capital, or surplus of the insurer, furnish the following information:
(a) state the nature of the restatement and
the date as of which it is to be effective,
(b) outline briefly the reasons for the
restatement and for the selection of the particular effective date,
(c) state the name and amount of each account
affected by the restatement and the effect of the restatement
thereon.
(14) Matters
not required to be submitted. If action is to be taken with respect to any
matter which is not required to be submitted to a vote of securityholders,
state the nature of such matter, the reason for submitting it to a vote of
securityholders and what action is intended to be taken by the management in
the event of a negative vote on the matter by the securityholders.
(15) amendment of charter, by-laws, or other
documents. If action is to be taken with respect to any amendment of the
insurer's charter, by-laws or other documents as to which information is not
required above, state briefly the reasons for and general effect of such
amendment and the vote needed for its approval.
Ga. L. 1960, pp. 289,
305, 1965, pp. 378 to 380.
