Current through November, 2024
Section 16-1-4 - Definitions(a) The terms "solicit" and "solicitation" for purposes of this chapter shall include: (1) Any request for a proxy, whether or not accompanied by or included in a form of proxy; or(2) Any request to execute or not to execute, or to revoke, a proxy; or(3) The furnishing of a proxy or other communication to stockholders under circumstances reasonably calculated to result in the procurement, withholding, or revocation of a proxy.(b) The terms "solicit" and "solicitation" shall not include:(1) Any solicitation by a person in respect to stock of which the person is the beneficial owner; or(2) Action by a broker or other person in respect to stock carried in the person's name; or(3) Action in the name of the nominee in forwarding to the beneficial owner of such stock soliciting material received from the company; or(4) Impartially instructing such beneficial owner to forward a proxy to the person, if any, to whom the beneficial owner desires to give a proxy; or(5) 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; or(6) The furnishing of a form of proxy to a stockholder upon the unsolicited request of the stockholder, or the performance by any person of ministerial acts on behalf of a person soliciting a proxy.[Eff 6/22/81] (Auth: HRS § 431:2-201) (Imp: HRS § 431:4-103)