Pennsylvania Act 1921-170 — INSURANCE COMPANIES, PROXY VOTES

Act text

INSURANCE COMPANIES, PROXY VOTES
                  Act of May 5, 1921, P.L. 350, No. 170               Cl. 40
                                  AN ACT

     Making it unlawful to give or offer money to secure proxies for
        use at meetings of insurance companies.

        Section 1.  Be it enacted, &c., That it shall be unlawful for
     any person, firm, or corporation, or the officers, directors,
     trustees, employes, attorneys, or representatives of any stock
     or mutual insurance company, incorporated under the laws of this
     Commonwealth or the laws of any other State or foreign country,
     to give or promise money or anything of value to the owners or
     holders of capital stock of any insurance company, or to the
     members of any mutual insurance company, incorporated under the
     laws of this Commonwealth, with intent to secure the voting
     proxy of any share or shares of such capital stock or of any
     member; and no proxy or proxies so obtained shall be voted at
     any stockholders' or members' meeting of any insurance company
     incorporated under the laws of this Commonwealth.
        Section 2.  Any person violating this act shall be guilty of
     a misdemeanor, and, upon conviction thereof, shall be sentenced
     to pay a fine not exceeding one thousand dollars ($1,000), and
     undergo imprisonment for a period not exceeding one year, or
     either or both, in the discretion of the court.