04 NCAC 16G .0829. PRESENTATION OF INFORMATION

(a)  The information required in a proxy statement or offering circular need not follow the order of the items or other requirements in the appropriate form.  Such information shall not, however, be set forth in any fashion which obscures any of the required information or any information necessary to keep the required information from being incomplete or misleading.  Where an item requires information to be given in tabular form, it shall be given in substantially the tabular form specified in the item.

(b)  All information contained in a plan of conversion, proxy statement, or offering circular shall be set forth under appropriate captions or headings reasonably indicative of the principal subject matters set forth thereunder.  Except as to financial statements and other tabular data, all information set forth in any form under this Subchapter shall be divided into reasonably short paragraphs or sections.

(c)  Every proxy statement and offering circular shall include in the forepart a reasonably detailed table of contents showing the subject matter of its various sections or subdivisions and the page number on which each such section or subdivision begins.

(d)  All information required to be included in a proxy statement or offering circular shall be clearly understandable without the necessity of referring to the particular form or to the regulations under this Subchapter.  Except as to financial statements and information required in tabular form, the information set forth in a proxy statement or offering circular may be expressed in condensed or summarized form.

(e)  Financial statements are to be set forth in comparative form and shall include the notes thereto and the accountant's certificate or certificates.

 

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

Eff. February 15, 1992.