760 IAC 1-11-1 Authority to promulgate rule; purpose of rule

Sec. 1. Authority and Purpose. This regulation [ 760 IAC 1-11] is issued pursuant to the authority set forth in the Indiana Insurance Law, Acts of the Indiana General Assembly of 1935, Chapter 162, Page 588, Section 14 [ IC 27-1-3-7] as amended by Acts of the Indiana General Assembly of 1965, Chapter 178, Section 1 [ IC 27-1-3-7] (Burns Indiana Statutes, Section 39-3311 [ IC 27-1-3-7]). The purpose of the regulation[ 760 IAC 1-11] is to govern the method of soliciting proxies, consents and authorizations by certain domestic stock insurance companies, and to prescribe the form of such proxies, consents and authorizations, and to assure that security holders of such companies be provided with certain information concerning such companies when proxies, consents and authorizations are solicited. This regulation [ 760 IAC 1-11] is in accordance with regulations recommended to the several states for adoption by the National Association of Insurance Commissioners.