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Subchapter: Proxies, Consents, and Authorizations-- Special Provisions Applicable to Election Contests
Latest version of the adopted rule presented in Administrative Rules of Montana (ARM):

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6.6.1402    DEFINITIONS

As used in this sub-chapter, unless the context indicates otherwise:

(1) "Solicit" and "solicitation" include:

(a) Any request for a proxy, whether or not accompanied by or included in a form of proxy; or

(b) Any request to execute, not execute, or revoke a proxy; or

(c) The furnishing of a proxy or other communication to stockholders under circumstances reasonably calculated to re-sult in the procurement, withholding, or revocation of a proxy.

(2) "Solicit" and "solicitation" do not include:

(a) Any solicitation by a person in respect to stock of which he is the beneficial owner;

(b) Action, by a broker or other person in respect to stock carried in his name or in the name of his nominee;

(i) Forwarding to the beneficial owner of that stock soliciting material received from the company;

(ii) Impartially instructing such beneficial owner to forward a proxy to any person to whom the beneficial owner desires to give a proxy; or

(iii) Impartially requesting instructions from the beneficial owner with respect to the authority to be conferred by the proxy and stating that a proxy will be given if the instructions are received by a certain date;

(c) The furnishing of a form of proxy to a stockholder upon his unsolicited request, or the performance by any person of ministerial acts on behalf of a person soliciting a proxy.

(3) "Participant" and "participant in a solicitation" include:

(a) The insurer;

(b) Any director of the insurer, any nominee for whose election as a director proxies are solicited;

(c) Any other person, acting alone or with one or more other persons, committees or groups, in organizing, directing, or financing the solicitaion.

(4) "Participant" and "participant in a solicitation" do not include:

(a) A bank, broker, or dealer who, in the ordinary course of business, lends money or executes orders for the purchase or sale of stock and who is not otherwise a participant;

(b) Any person or organization retained or employed by a participant to solicit stockholders or any person who merely transmits proxy soliciting material or performs ministerial or clerical duties;

(c) Any person employed in the capacity of attorney, accountant, or of advertising, public relations, or financial adviser, and whose activities are limited to the performance of his duties in the course of that employment;

(d) Any person regularly employed as an officer or employee of the insurer or any of its subsidiaries or affiliates who is not otherwise a participant; or

(e) Any officer or director of, or any person regularly employed by, any other participant, if that officer, director, or employee is not otherwise a participant.

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