mpelectric,
I'm a general contractor and I've had to do this in 2 jurisdictions. They were both local codes. One was every hole in every stud. The other town said caulk the holes shut every 8 feet so the wall was made up of 8ft x 8ft areas. They were looking for "draft-stopping" which is different from fire-stopping. In most residential single family homes you can use caulk, rockwool, or other similar products. When you get into a fire-rated classification, the products change.
Harold
