New Jersey Administrative Code
Title 11 - INSURANCE
Chapter 2 - INSURANCE GROUP
Subchapter 5 - PROXIES, CONSENTS AND AUTHORIZATIONS
Section 11:2-5.6 - Proxy requirements

Universal Citation: NJ Admin Code 11:2-5.6

Current through Register Vol. 56, No. 24, December 18, 2024

(a) The following requirements shall be included in the form of proxy:

1. An indication in boldface type as to whether or not the proxy is solicited on behalf of the management;

2. A specifically designated blank space for dating the proxy; and

3. Clear and impartial identification of each matter or group of related matters intended to be acted upon, whether proposed by the management or stockholders.

(c) Means shall be provided in the proxy for the person solicited to specify by ballot a choice between approval or disapproval of each matter or group of related matters referred to therein, other than elections to office. A proxy may confer discretionary authority with respect to matters as to which a choice is not so specified if the form of proxy states in boldface type how it is intended to vote the shares or authorization represented by the proxy in each such case.

(d) A proxy may confer discretionary authority with respect to other matters which may come before the meeting, provided the persons on whose behalf the solicitation is made are not aware a reasonable time prior to the time the solicitation is made that any other matters are to be presented for action at the meeting and provided further that a specific statement to that effect is made in the proxy statement or in the form of proxy.

(e) No proxy shall confer authority either:

1. To vote for the election of any person to any office for which a bona fide nominee is not named in the proxy statement; or

2. To vote at any annual meeting other than the next annual meeting, or any adjournment thereof, to be held after the date on which the proxy statement and form of proxy are first sent or given to stockholders.

(f) The proxy statement or form of proxy shall provide, subject to reasonable specified conditions, that the proxy will be voted and that where the person solicited specifies by means of ballot provided pursuant to (c) above a choice with respect to any matter to be acted upon, the vote will be in accordance with the specifications so made.

(g) The information included in the proxy statement shall be clearly presented and the statements made shall be divided into groups according to subject matter, with appropriate headings. All printed proxy statements shall be clearly and legibly presented.

Disclaimer: These regulations may not be the most recent version. New Jersey may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.