First American Capital Releases Full Text of Kansas Insurance Department Letter.Business Editors TOPEKA, Kan.--(BUSINESS WIRE)--May 29, 2003 First American First American may refer to:
See: New York Stock Exchange :CIA CIA: see Central Intelligence Agency. (1) (Confidentiality Integrity Authentication) The three important concerns with regards to information security. Encryption is used to provide confidentiality (privacy, secrecy). ) of Austin, Texas, in connection with the election of dissident nominees to First American Capital's Board of Directors. Today, First American Capital releases the full text of the Insurance Commissioner's letter. (See attachment.) First American Capital understands that the Citizens Group has subsequently requested that the Kansas Insurance Department allow it to vote its white proxies at the June 2, 2003 meeting. In the alternative, the Citizens Group has asked that its white proxies to be certified See certification. at the meeting without the votes being counted until and unless the Kansas Insurance Commissioner The Kansas Insurance Commissioner (in full the Kansas State Insurance Commissioner) has the primary responsibility to the people whose personal lives are protected by insurance in the state of Kansas. approves the regulatory filing of the Citizens Group or to be voted and counted on a vote to adjourn adjourn v. the final closing of a meeting, such as a convention, a meeting of the board of directors, or any official gathering. It should not be confused with a recess, meaning the meeting will break and then continue at a later time. (See: recess, session) the June 2nd meeting to a later time. If the Kansas Insurance Department determines any of these requests to be meritorious mer·i·to·ri·ous adj. Deserving reward or praise; having merit. [Middle English, from Latin merit , the Citizens Group may be able to vote its proxies for all or limited purposes at the June 2nd meeting. MANAGEMENT OF FIRST AMERICAN CAPITAL URGES EVERY SHAREHOLDER TO SUPPORT MANAGEMENT BY VOTING FOR MANAGEMENT'S NOMINEES ON THE BLUE PROXY CARD A proxy card is an easily-acquired or home-made substitute for a collectible card. A proxy is used when a collectible card game player does not own a card, and it would be impractical for such purposes to acquire the card. AND MAILING IT TODAY TO UMB (1) (Upper Memory Block) See UMA. (2) (Ultra Mobile Broadband) See 3GPP. 1. UMB - Upper Memory Block. 2. UMB - A university(?). BANK. KANSAS INSURANCE DEPARTMENT May 23, 2003 John C. Frieden Frieden, Haynes & Forbes 555 South Kansas Avenue, Suite 303 P. O. Box 639 Topeka, KS 66601-0639 Fax# 232-5841 William W. Sneed Polsinelli, Shalton & Welte 555 Kansas Avenue, Suite 301 Topeka, KS 66603-3443 Fax# 233-1939 Re: Annual Meeting of Shareholders of First American Capital Corporation June 2, 2003 - Objection of KID to the voting proxies Dear Counsel: On May 21, 2003, Kevin Fowler Kevin Fowler (born Amarillo, Texas) is an American country music singer. He is known for singing Texas Country music. Biography Kevin Fowler was born in Amarillo, Texas, the youngest of two children. of Frieden, Haynes & Forbes, acting on behalf of Harold E. Riley, Mark A. Oliver and Citizens, Inc., had delivered to the Kansas Insurance Department the documents which completed the Form A Statement of Riley, Oliver and Citizens, Inc. seeking approval to vote proxies in favor of an alternate slate of directors of First American Capital Corporation at the above referenced shareholders meeting. The Department now considers the Form A filed, but at this time has not approved, nor decided to deny, the same. Several hours prior to the delivery of the Form A documents, an individual delivered to employees of the Department documents which raise questions regarding the plans of Riley, Oliver and Citizens, Inc. in making changes in management, as well as the competence, experience and integrity of those persons (not Riley, Oliver or Citizens, Inc.) who would control the operation of the First American under their plan. On that basis, two examiners were sent to the home office of First American to examine the financial records of the company. No conclusions yet have been reached, however, sufficient information has been recovered to lead the Department to the conclusion that further investigation is needed. It is hoped that this examination can be completed by next week. Given the above, as well as the statutory notice time lines, a hearing, if a hearing is required on the Form A of Riley, Oliver and Citizens, Inc., would not be practical prior to June 2, 2002. It is hoped that by next week, sufficient information will be available to determine if a hearing is needed. If it is determined that a hearing is needed, one will be scheduled. As to the voting of the proxies gathered by or on behalf of Riley, Oliver and Citizens, Inc., it appears to the commissioner that the use of any of these proxies would be a violation of the Kansas Insurance Holding Companies Act. She objects to their use, in any manner whatsoever. If any of these proxies are used at the upcoming shareholders meeting she will take appropriate action which may include the filing of a suit in the Shawnee County District Court, the seizure of the proxies and the invalidation in·val·i·date tr.v. in·val·i·dat·ed, in·val·i·dat·ing, in·val·i·dates To make invalid; nullify. in·val of any actions resulting from the use of the proxies. Finally, the Commissioner of Insurance will consider the use of Riley, Oliver and Citizens, Inc. proxies a knowing and willful Intentional; not accidental; voluntary; designed. There is no precise definition of the term willful because its meaning largely depends on the context in which it appears. violation of the Act. Sincerely, Robert (Bob) Tomlinson Assistant Commissioner of Insurance |
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