Code of Massachusetts Regulations
211 CMR - DIVISION OF INSURANCE
Title 211 CMR 140.00 - Procedures Concerning The Merger Or Consolidation Of Insurance Companies
Section 140.09 - Notice of Hearing

Universal Citation: 211 MA Code of Regs 211.140

Current through Register 1531, September 27, 2024

(1) The Commissioner shall issue timely written notice of the Hearing to each Domestic Company and direct it to provide such notice by publication and/or mail or delivery to its directors, officers, employees, Policyholders, and Stockholders, if any, as the Commissioner deems appropriate, as well as to the Foreign Company(ies), if any.

(2) Contents. The notice of the Hearing shall provide:

(a) A reference to the applicable statutory section(s) and regulations;

(b) The date, time and location of the Hearing;

(c) A brief statement of the subject of the Hearing;

(d) A brief statement of the dates and procedures for submission by any person of:
1. A written statement concerning the Agreement; and

2. A written notice of intent to make an oral statement at the Hearing.

(e) A statement that the docket of the Hearing is maintained at the Division and is available for public inspection.

(3) Method of Notice. The notice of Hearing shall be mailed by the Domestic Company(ies) by first class mail or provided as the Commissioner deems appropriate to its directors, officers, employees, Policyholders and Stockholders, if any, and to the Foreign Company(ies), if any, at such time as directed by the Commissioner, but in no event later than 30 days prior to the Hearing.

(4) Other Materials. At the discretion of the Commissioner, the notice of Hearing mailed or provided to some or all of those persons entitled to receive notice may be accompanied or preceded by information relevant to the Agreement and other explanatory information, all of which shall be in a form satisfactory to the Commissioner. This information may include the notice of Special Meeting, proxies, ballots and other materials required and in a form approved by the Commissioner.

(5) Newspaper Publication of Notice. The Domestic Company(ies) shall arrange for newspaper publication of the notice of Hearing in a newspaper or newspapers approved by the Commissioner. Such notice shall be published no later than 30 days prior to the Hearing.

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