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Rule Title: PROXY STATEMENTS--OPTIONS, WARRANTS, OR RIGHTS
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Department: STATE AUDITOR
Chapter: INSURANCE DEPARTMENT
Subchapter: Proxies, Consents, and Authorizations Of Domestic Stock Insurers
 
Latest version of the adopted rule presented in Administrative Rules of Montana (ARM):

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6.6.1314    PROXY STATEMENTS--OPTIONS, WARRANTS, OR RIGHTS

If action is to be taken with respect to the granting or extension of any options, warrants, or rights (all referred to in this rule as "warrants") to purchase stock of the insurer or any subsidiary or affiliate, other than warrants issued to all stock holders on a pro-rata basis, the proxy statement shall furnish the following information:

(1) The title and amount of stock called for or to be called for, the prices, expiration dates and other material conditions upon which the warrants may be exercised, the consideration received or to be received by the insurer, subsidiary or affiliate for the granting or extension of the warrants, and the market value of the stock called for or to be called for by the warrants, as of the latest practicable date;

(2) If known, a separate statement of the amount of stock called for or to be called for by warrants received or to be received by each director, nominee for director, and officer of the insurer, and each other person who will be entitled to acquire 5% or more of the stock called for or to be called for by such warrants, naming each of them;

(3) If known, a statement of the total amount of stock called for or to be called for by the warrants, received or to be received by all directors and officers of the company as a group and all employees, without naming them.

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


 

 
MAR Notices Effective From Effective To History Notes
5/5/1975 Current History: Sec. 33-3-447 MCA; IMP, Sec. 33-3-447 MCA; EMERG, NEW, Eff. 5/5/75.
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