S.D. Admin. R. 20:06:03:20

Current through Register Vol. 50, page 159, June 17, 2024

Section 20:06:03:20 - Solicitations prior to furnishing required written proxy statement

Notwithstanding the provisions of subdivision 20:06:03:06(1), a solicitation subject to this section may be made prior to furnishing stockholders a written proxy statement containing the information specified in §§ 20:06:03:22 to 20:06:03:36, inclusive, with respect to such solicitation, provided that:

(1) The statements required by §§ 20:06:03:14 to 20:06:03:19, inclusive, hereof are filed by or on behalf of each participant in such solicitation;

(2) No form of proxy is furnished to stockholders prior to the time the written proxy statement required by subdivision 20:06:03:06(1) is furnished to such persons: provided, however, that this subdivision shall not apply where a proxy statement then meeting the requirements of §§ 20:06:03:22 to 20:06:03:36, inclusive, has been furnished to stockholders;

(3) At least the information specified in §§ 20:06:03:15 and 20:06:03:16 hereof to be filed by each participant, or an appropriate summary thereof, are included in each communication sent or given to stockholders in connection with the solicitation;

(4) A written proxy statement containing the information specified in §§ 20:06:03:22 to 20:06:03:36, inclusive, with respect to a solicitation is sent or given stockholders at the earliest practicable date.

S.D. Admin. R. 20:06:03:20

SL 1975, ch 16, § 1; 12 SDR 151, 12 SDR 155, effective 7/1/1986.

General Authority: SDCL 58-4-1, 58-5-49.

Law Implemented: SDCL 58-5-49.