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;
(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.