NAC693A.150. Information to security holders.

     1. No solicitation may be made unless each person solicited is concurrently furnished, or has been previously furnished, a written proxy statement containing the information specified in NAC 693A.320 to 693A.460, inclusive.

     2. If the solicitation is made on behalf of the management of the insurer and relates to an annual meeting of security holders at which directors are to be elected, each proxy statement furnished pursuant to this section must be accompanied or preceded by an annual report in preliminary or final form containing the financial statements referred to in Schedule SIS under the heading “Financial Reporting to Stockholders,” for the last fiscal year. The annual report to security holders may be in any form deemed suitable by the management which conforms to the requirements of this section.

     3. Two copies of each report sent to the security holders as required by this section must be mailed to the Commissioner of Insurance not later than the date on which such report is first sent or given to security holders, or the date on which preliminary copies of solicitation material are filed with the Commissioner under subsection 1 of NAC 693A.170, whichever is later.

     4. If no solicitation is being made by the management of the insurer with respect to any annual or other meeting, the insurer shall mail to each security holder of record, at least 20 days before the meeting date, an information statement required by NAC 693A.140, containing the information called for by NAC 693A.330 and 693A.360 to 693A.460, inclusive, which would be applicable to any matter to be acted upon if proxies were to be solicited in connection with the meeting. If the information statement relates to an annual meeting at which directors are to be elected, it must be accompanied by an annual report to security holders in the form required by subsection 2 of this section.

     [Comm’r of Insurance, M-4 § 5, eff. 5-13-72]