S.D. Admin. R. 20:06:03:28

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

Section 20:06:03:28 - Remuneration and other transactions with management and others

The solicitor shall furnish the information reported or required in item one of the schedule of stockholder information supplement under the heading "information regarding management and directors" if action is to be taken with respect to:

(1) The election of directors;

(2) Any remuneration plan, contract or arrangement in which any director, nominee for election as a director, or officer of the insurer will participate;

(3) Any pension or retirement plan in which any such person will participate, or;

(4) The granting or extension to any such person of any options, warrants or rights to purchase any stocks, other than warrants or rights issued to stockholders, as such, on a pro rata basis. If the solicitation is made on behalf of persons other than the management, information shall be furnished only as to subsection (1) (a) aforesaid heading of schedule of stockholder information supplement.

S.D. Admin. R. 20:06:03:28

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.