§ 23.54. Annual reports.
(a) Notwithstanding the provisions of § § 23.22 and 23.24 (relating to financial statements accompanying proxies; information statement to security holders), two copies of any portion of the annual report referred to in § 23.23 (relating to copies for Insurance Department), which comments upon or refers to any solicitation or which refers to any participant in such a solicitation, other than solicitations by the management, shall be filed with the Insurance Department as proxy material subject to the provisions of this chapter.
(b) The portion of the report specified in subsection (a) shall be filed with the Insurance Department in preliminary form at least 5 days prior to the date copies of the report are first sent or given to security holders.
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