This Section applies to every solicitation of a proxy from a member of a savings institution for the meeting that a plan of conversion will be voted upon, except the following:

(1)           any solicitation made otherwise than on behalf of the management of the savings institution where the total number of persons solicited is not more than 50; or

(2)           any solicitation through the medium of a newspaper advertisement that informs members, following approval of the plan of conversion, of a source from which they may obtain copies of a proxy statement, form of proxy, or any other solicitation material and shall contain no more than:

(a)           name the savings institution;

(b)           state the reason for the advertisement;

(c)           identify the proposal or proposals to be acted upon by members; and

(d)           urge members to vote at the meeting.


History Note:        Authority G.S. 54B-33; 54C‑33; 54C‑53;

Eff. February 15, 1992;

Amended Eff. November 1, 2017;

Pursuant to G.S. 150B-21.3A, rule is necessary without substantive public interest Eff. November 22, 2018.