§ 23.22. Financial statements accompanying proxies.
(a) If a solicitation is made on behalf of the management of the insurer relating to an annual meeting of security holders at which directors are to be elected, each proxy statement furnished under § 23.21 (relating to required information prior to solicitations) shall be accompanied or preceded by an annual report, in preliminary or final form, to the security holders, containing whatever financial statements for the last fiscal year are referred to in Schedule SIS, as promulgated by the National Association of Insurance Commissioners, under the heading ‘‘Financial Reporting to Stockholders.’’
(b) Subject to the requirements in subsection (a) with respect to financial statements, the annual report to security holders may be in any form deemed suitable by the management.
Cross References This section cited in 31 Pa. Code § 23.24 (relating to information statement to security holders); and 31 Pa. Code § 23.54 (relating to annual reports).
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