Required contents of proxy solicitation

Sec. 11. A person soliciting a proxy from a member shall provide all members with a proxy statement that: (1) identifies the person soliciting the proxy; (2) informs the member of the right to vote upon the plan of reorganization and the vote required for approval; (3) briefly describes the proposed plan of reorganization and any voting capital stock to be offered; (4) explains the use of any new capital to be raised; and (5) describes any employee benefit plan or stock option plan. As added by P.L.226-2023, SEC.30.