Utah Admin. Code R590-67-6 - Solicitation

(1) Sections R590-67-6 through R590-67-13 apply to any solicitation, except for a solicitation:

(a) not made on behalf of an insurer where the total number of persons solicited is ten or fewer;

(b) by a person regarding a security carried in the person's name or in the name of the person's nominee, other than as a voting trustee, or held in the person's custody, if the person:

(i) does not receive commission or remuneration for the solicitation, directly or indirectly, other than reimbursement of reasonable expenses;

(ii) furnishes promptly to the solicited person a copy of all soliciting material with respect to the same subject matter or meeting received from all persons who furnish copies thereof for that purpose and who shall, if requested, defray the reasonable expenses to be incurred in forwarding the material; and

(iii) does no more than impartially instruct the person solicited to forward a proxy to the person, if any, to whom the person solicited desires to give a proxy, or impartially request from the person solicited instructions as to the authority to be conferred by the proxy and state that a proxy will be given if no instructions are received by a certain date;

(c) by a person regarding securities of which it is the beneficial owner;

(d) through a newspaper advertisement that informs security holders of a source where they may obtain copies of a proxy statement, proxy form, and other soliciting material, and only includes:

(i) the name of the issuer;

(ii) the reason for the advertisement; and

(iii) the proposal to be acted upon by security holders; and

(e) exempted from this rule by the commissioner.

Notes

Utah Admin. Code R590-67-6

Adopted by Utah State Bulletin Number 2023-12, effective 6/9/2023