New Jersey Administrative Code
Title 11 - INSURANCE
Chapter 2 - INSURANCE GROUP
Subchapter 6 - INFORMATION REQUIRED IN PROXY STATEMENT, GENERALLY
Section 11:2-6.13 - Authorization or issuance of stock
Universal Citation: NJ Admin Code 11:2-6.13
Current through Register Vol. 56, No. 6, March 18, 2024
(a) If action is to be taken with respect to the authorization or issuance of any stock of the insurer, the proxy statement shall furnish the title, amount and description of the stock to be authorized or issued.
(b) If the shares of stock are other than additional shares of common stock of a class outstanding, the proxy statement shall furnish a brief summary of the following, if applicable:
1. Dividend rights;
2. Voting rights;
3. Liquidation rights;
4. Preemptive rights;
5. Conversion rights;
6. Redemption and sinking fund provisions;
and
7. Interest rate and date of
maturity.
(c) If the shares of stock 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.
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