1194 Deadline for submission of merger, consolidation, acquisition, redomestication and recapitalization filings and public availability of filed documents

Deadline For Submission of Merger, Consolidation, Acquisition, Redomestication and Recapitalization Filings and Public Availability of Filed Documents

[27 Pa.B. 3724]

   Merger, consolidation, acquisition of voting stock, redomestication and recapitalization filings requiring the approval of the Insurance Commissioner as mandated by The Insurance Company Law of 1921 (40 P. S. §§ 341--991) or the Business Corporation Law (15 Pa.C.S. § 21101 et seq.), should be submitted to the Insurance Department (Department) on or before October 1 if the filer requires approval on or before December 31. Filings made after October 1 cannot be guaranteed appropriate review and disposition by the Department by December 31.

   This notice advises the insurance industry and other filers of the Department's practices regarding the availability of filed documents. In some instances, a public filing may include or reference materials which are entitled to confidential treatment under statute, regulation, case law, administrative or court order, or other such authority. For example, the Department declines to release personal information, such as Social Security numbers or home addresses of persons submitting Biographical Affidavits. In addition, documents may be nonpublic because they contain proprietary or privileged information or trade secrets. For example, the Department historically has not released business plans or financial projections which include analyses and underlying assumptions.

   If a filer wishes to assert the confidentiality of documents, reports or other materials which are included or referenced within a ''filing,'' the filer should alert the Department to this issue at the time of submission as follows:

   *  Submit the confidential materials physically separate from the remainder of the filing, submit a redacted version of the materials, or highlight the location of the confidential information in the filing.

   *  Identify the basis upon which the assertion of confidentiality, privilege or trade secret is premised.

   *  Identify the person to whom inquiries regarding the issue of confidential treatment should be directed.

   Questions on the issues of submission deadlines or public access to filed documents may be addressed to the analyst handling the filing or to Steve Harman, Chief, Company Licensing Division, Insurance Department, 1345 Strawberry Square, Harrisburg, PA 17120.

GREGORY S. MARTINO,   
Acting Insurance Commissioner

[Pa.B. Doc. No. 97-1194. Filed for public inspection July 25, 1997, 9:00 a.m.]