(1) No solicitation subject to this sub-chapter may be made by means of a proxy statement, form of proxy, notice of meeting, or other communication, written or oral, containing any statement which:

(1) Is, at the time and in the light of the circumstances under which it is made, false or misleading with respect to any material fact;

(2) Fails to state any material fact necessary in order to make the statements therein not false or misleading; or

(3) Fails to state any material fact necessary to correct any statement, made in an earlier communication with respect to the solicitation of a proxy for the same meeting or subject matter, which has become false or misleading.

History: Sec. 33-3-447 MCA; IMP, Sec. 33-3-447 MCA; EMERG, NEW, Eff. 5/5/75.