HAR §16-1-5. Information to be furnished to stockholders

(a) No solicitation subject to this chapter shall be made unless the person solicited is concurrently furnished or has previously been furnished with a written proxy statement containing the information in the exhibit entitled "Schedule A" at the end of this chapter. (b) If the solicitation is made on behalf of the management of the insurer and relates to an annual meeting of stockholders at which directors are to be elected, each proxy statement furnished pursuant to subsection (a) shall be accompanied or preceded by an annual report (in preliminary or final form) to the stockholders containing the financial statements for the last fiscal year as are included in the exhibit entitled "Stockholders Information Supplement-Financial Reporting to Stockholder" located at the end of this chapter and which is made a part of this chapter. Subject to the foregoing requirements with respect to financial statements, the annual report to stockholders may be in any form deemed suitable by the management. (c) Two copies of each report sent to the stockholders pursuant to this chapter shall be mailed to the insurance commissioner, not later than the date on which the report is first sent or given to stockholders or the date on which preliminary copies of solicitation are filed with the insurance commissioner, pursuant to section 16-1-7(a), whichever date is later. [Eff 6/22/81] (Auth: HRS §431:2-201) (Imp: HRS §431:4-103)