§ 27-1-28. Proxies, consents, and authorizations in respect to any equity security issued by
a domestic insurer.
(a) The commissioner may by regulations prescribe the form, content, and manner of solicitation
of any proxy, consent, or authorization in respect of any equity security issued by
a domestic insurer, which regulations when and if issued and in force shall substantially
conform to those prescribed by the National Association of Insurance Commissioners.
(b) No domestic insurer, or any director, officer, or employee of the insurer or any other
person shall solicit or permit the use of their name to solicit, by mail or otherwise,
any person to give or to refrain from giving any proxy, consent, or authorization
in respect of any equity security issued by the insurer in contravention of any regulations
the commissioner may prescribe pursuant to this section.
(c) From and after the date of issuance of any regulations by the commissioner, every
proxy, consent, or authorization, and every form of written solicitation, announcement
or advertisement to be used to obtain the proxy, consent, or authorization, that is
intended to be used in respect of any meeting or procedure of equity security holders
of a domestic insurer and is not exempted from the operation of the regulations by
its terms shall be filed with the commissioner in the manner and at the times provided
by the regulations by the person intending to use the written solicitation, announcement,
or advertisement. For the purposes of this section, the term "person� means an individual,
a corporation, a partnership, an association, a joint stock company, a business trust,
or an unincorporated organization.
(d) Failure to comply with any regulation of the commissioner made pursuant to this section
shall be unlawful and any proxy, consent, or authorization obtained in violation of
this section or in contravention of any regulation issued pursuant to this section
shall be void. Any domestic insurer or any person legally entitled to vote or to give
the person's consent or authorization with respect to the equity security, or the
commissioner, may enforce compliance with the regulations of the commissioner made
pursuant to this section by appropriate action at law or in equity; provided, that
no action shall be brought more than fifteen (15) days after the date of the meeting
at which a vote, consent, or authorization was purported to have been recorded.