Section R590-67-2 - Purpose and Scope(1) The purpose of this rule is to establish requirements for: (c) a securities solicitation;(d) information provided to a securities holder;(e) a consent and authorization;(g) a false and misleading statement provision; and(h) a provision related to an election contest.(2)(a) This rule applies to a domestic stock insurer that has a class of equity securities held of record by 300 or more persons, directors, officers, or employees.(b) This rule does not apply to an insurer if 95% or more of its equity securities are owned or controlled by a parent or an affiliated insurer and the remaining securities are held of record by less than 500 persons.(c) This rule does not apply to a domestic stock insurer that files with the Securities and Exchange Commission, with respect to a class of securities, forms of proxies, consents, and authorizations complying with the requirements of the Securities Exchange Act of 1934 and its applicable regulations, with respect to that class of securities.(d) This rule applies to a proxy, consent, or authorization of a class of equity securities of a domestic insurer solicited by or on behalf of the management of the insurer from the holders of record of the securities and its schedules before any annual or other meeting of the security holders.Utah Admin. Code R590-67-2
Adopted by Utah State Bulletin Number 2023-12, effective 6/9/2023