S.D. Admin. R. 20:06:03:24

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

Section 20:06:03:24 - Persons making solicitations excluded

Special solicitations are subject to the following guidelines:

(1) If the solicitation is made by the management of the insurer, the solicitor shall so state. The solicitor shall give the name of any director of the insurer who has informed the management in writing that the director intends to oppose any action intended to be taken by the management and indicate the action which the director intends to oppose;

(2) If the solicitation is made otherwise than by the management of the insurer, the solicitor shall state the names and addresses of the persons by whom and on whose behalf it is made and the names and addresses of the persons by whom the cost of solicitation has been or will be borne, directly or indirectly;

(3) If the solicitation is to be made by specially engaged employees or paid solicitors, they shall state:

(a) The material features of any contract or arrangement for such solicitation and identify the parties; and

(b) The cost or anticipated cost of the contract or arrangement.

S.D. Admin. R. 20:06:03:24

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.