19 Miss. Code. R. 1-12.02 - Application of Regulation

A. No domestic stock insurer which has any class of equity securities held of record by three hundred or more persons, or any director, officer, or employee of such insurer, or any other person, shall solicit, or permit the use of his name to solicit, by mail or otherwise, any proxy, consent, or authorization in respect of any such class of equity securities in contravention of this Regulation and Schedules A and B hereto annexed and hereby made a part of this Regulation, provided, however, that this Regulation shall not apply to any insurer if ninety-five percent or more of its equity securities is owned or controlled by a parent or an affiliated insurer and the remaining securities are held of record by less than 500 persons. A domestic stock insurer which files with the Securities and Exchange Commission with respect to any class of securities forms of proxies, consents, and authorizations complying with the requirements of the Securities Exchange Act of 1934, as amended, and the applicable regulations promulgated thereunder, shall be exempt from the provisions of this Regulation with respect to such class of securities.

B. Unless proxies, consents or authorizations in respect of any class of equity securities of a domestic insurer subject to Section 1(a) are solicited by or on behalf of the management of such insurer from the holders of record of such securities in accordance with this Regulation and the Schedules hereto prior to any annual or other meeting of such security holders, such insurer shall file with the Commissioner and transmit to every security holder who is entitled to vote in regard to any matter to be acted upon at the meeting and from whom a proxy is not solicited a written information statement containing the information specified in Schedule C hereto annexed.

Notes

19 Miss. Code. R. 1-12.02

Miss. Code Ann. § 83-5-1; 83-5-19; 83-19-79 (Rev. 2011)