New York Codes, Rules and Regulations
Title 13 - DEPARTMENT OF LAW
Chapter II - SECURITIES TRANSACTIONS AND PERSONNEL
Subchapter A - SECURITIES-GENERAL
Part 12 - SECURITY TAKEOVER DISCLOSURE RULES
Section 12.8 - Safe harbor

An offeror shall be deemed to be in compliance with section 1602(b) if the offeror makes full and fair disclosure to the offerees of the material information set forth in the registration statement filed pursuant to section 1602(a) as soon as practicable after the commencement of the takeover bid. An offeror shall be deemed to have made such disclosure if, within seven days of the commencement of the takeover bid, copies of a document or documents making full and fair disclosure of the material information set forth in the registration statement filed pursuant to section 1602(a) are mailed to all record owners of the equity securities of the target company who are listed on the stock records of the company, determined as of a date not more than 30 days prior to the commencement of the takeover bid, as having addresses of record in New York State at such New York address and, within five days of the commencement of the takeover bid, a notice is published in The New York Times or the New York edition of the Wall Street Journal and a newspaper of general circulation in Albany, Buffalo, Rochester or Syracuse stating that a takeover bid is being made for the equity securities of the target company and that material information concerning the offer as required by statute is available to New York resident owners of the equity securities upon request at an address specified in the notice and copies of such document or documents are promptly sent to those New York resident owners who so request. Such newspaper notice shall be no less than five inches by seven inches in size.