N.Y. Comp. Codes R. & Regs. Tit. 11 §§ 80-1.3

Current through Register Vol. 46, No. 36, September 4, 2024

Section 80-1.3 - Applications pursuant to Insurance Law section 1501(c)

Applications for a determination that a person does not, or will not upon the taking of some proposed action, control any other person (hereinafter referred to as the "subject"), shall contain the following information:

(a) The number of authorized, issued and outstanding voting shares of the subject;

(b) With respect to such person and all persons controlling, controlled by or under common control with such person:

(1) the number of shares of the subject's securities that are held of record or known to be beneficially owned, and the number of shares concerning which there is a right to acquire, directly or indirectly;

(2) any interests in any other securities of the subject, including its notes, bonds and other corporate obligations; and

(3) information as to all transactions in any securities of the subject that were effected during the past six months by such person;

(c) Whether such person, including any person controlling, controlled by or under common control with it, is, or during the next preceding 12 months was, engaged under an agreement, contract, or retainer with the subject as a supplier of goods or services or in some employment or consulting capacity, or whether there is any understanding, written or otherwise, that such person will be so engaged, for which compensation was, is or will be payable; the nature of the arrangement and amount of such compensation;

(d) Whether such person is under common management, or shares any common officers or directors, with the subject and whether such person, if a natural person, or any member of his or her immediate family, is an officer or director of the subject; and

(e) A detailed statement explaining why such person should not be considered to control the subject.

N.Y. Comp. Codes R. & Regs. Tit. 11 §§ 80-1.3

Amended, New York State Register, Volume XXXVI, Issue 23, effective 6/11/2014