<html> <head> <title>Rule 20:06:03:20 Solicitations prior to furnishing required written proxy statement.</title> <META NAME="Keywords" Content="Administrative Rules 20:06:03:20"> <META NAME="Description" Content="Administrative Rules 20:06:03:20 Solicitations prior to furnishing required written proxy statement."> <meta name=Generator content="Microsoft Office HTML Filter 2.0"> <meta http-equiv=Content-Type content="text/html; charset=windows-1252"> <meta name=Originator content="Microsoft Word 10"> <style> <!-- --> </style> </head> <body lang=EN-US> <div> <p>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <b>20:06:03:20.&nbsp;&nbsp;Solicitations prior to furnishing required written proxy statement.</b> Notwithstanding the provisions of subdivision 20:06:03:06(1), a solicitation subject to this section may be made prior to furnishing stockholders a written proxy statement containing the information specified in §§&nbsp;20:06:03:22 to 20:06:03:36, inclusive, with respect to such solicitation, provided that:</p> <p>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (1)&nbsp;&nbsp;The statements required by §§&nbsp;20:06:03:14 to 20:06:03:19, inclusive, hereof are filed by or on behalf of each participant in such solicitation;</p> <p>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (2)&nbsp;&nbsp;No form of proxy is furnished to stockholders prior to the time the written proxy statement required by subdivision 20:06:03:06(1) is furnished to such persons: provided, however, that this subdivision shall not apply where a proxy statement then meeting the requirements of §§&nbsp;20:06:03:22 to 20:06:03:36, inclusive, has been furnished to stockholders;</p> <p>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (3)&nbsp;&nbsp;At least the information specified in §§&nbsp;20:06:03:15 and 20:06:03:16 hereof to be filed by each participant, or an appropriate summary thereof, are included in each communication sent or given to stockholders in connection with the solicitation;</p> <p>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (4)&nbsp;&nbsp;A written proxy statement containing the information specified in §§&nbsp;20:06:03:22 to 20:06:03:36, inclusive, with respect to a solicitation is sent or given stockholders at the earliest practicable date.</p> <p>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <b>Source:</b> SL 1975, ch 16, §&nbsp;1; 12 SDR 151, 12 SDR 155, effective July 1, 1986.</p> <p>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <b>General Authority:</b> SDCL <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=58-4-1">58-4-1</A>, <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=58-5-49">58-5-49.</A></p> <p>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <b>Law Implemented:</b> SDCL <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=58-5-49">58-5-49.</A></p> </div> </body> </html>