A proxy statement, form of proxy, notice of meeting, information statement, or other communication, written or oral, subject to this regulation may not contain any statement which, at the time and in the light of the circumstances under which it is made:

1. A. Is false or misleading with respect to any material fact; or

2. B. Omits to state any material fact necessary:

   1. (1) In order to make the statements not false or misleading; or
   2. (2) To correct any statement in any earlier communication with respect to the same meeting or subject matter which has become false or misleading.

Authority: Insurance Article, §§2-109, 4-113(a)(7)—(9), and 4-115, Annotated Code of Maryland

Effective date: May 1, 1968

Amended effective April 30, 1970

Chapter recodified from COMAR 09.30.02 to COMAR 31.04.07 effective September 7, 1998 (25:18 Md. R. 1439)

Regulations .01—.13 repealed and new Regulations .01—.16 adopted effective February 12, 2007 (34:3 Md. R. 303)