Vermont § 3313 - Proxies

§ 3313. Proxies

• (a) The Commissioner may prescribe by rules and regulations, the form, content and manner
  of solicitation of any proxy, consent, or authorization in respect of any voting security
  issued by a domestic insurer as necessary or appropriate in the public interest, or
  for protection of investors in the securities, or to ensure the fair dealing in the
  securities. (b) The term “voting security” as used in this section shall mean any instrument issued
  by a domestic stock insurance company that, in law or by contract, gives the holder
  the right to vote, consent, or authorize any corporate action of the insurer. (c) This section shall not apply to voting securities of a domestic insurer if the securities
  are registered pursuant to Section 12 of the Securities Exchange Act of 1934, as amended. (d) Any person, domestic insurer, or director, officer, or employee of the insurer, shall
  not solicit or permit the use of his or her name to solicit, by mail or otherwise,
  any person to give a proxy, consent, or authorization in respect of a voting security
  issued by the insurer in contravention of any rule or regulation made under this section. (e) Failure to comply with any rule or regulation made under this section shall be unlawful
  and any proxy or consent obtained in violation of this section or in contravention
  of any rule or regulation made thereunder shall be void. Any domestic insurer or
  any person who is legally entitled to vote, consent, or authorize by virtue of being
  the holder of record of such a security, or the Commissioner, if the other parties
  fail to act within 15 days after the date on which the vote was cast or counted, may
  enforce compliance with any rule or regulation made under this section, by appropriate
  civil action, except that no suit shall be brought more than 30 days after the date
  on which the vote, consent, or authorization was to have been effected. (Added 1967, No. 344 (Adj. Sess.), § 1 (ch. 1, subch. 1, § 13).)