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;

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(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.