COMAR 31.04.18.07. Pre-Acquisition Notification
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Code of Maryland Regulations › Title 31 MARYLAND INSURANCE ADMINISTRATION › Subtitle 04 INSURERS › Chapter 18 Form Filings Under the Maryland Insurance Acquisitions Disclosure and Control Act › COMAR 31.04.18.07
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A. If a domestic insurer, including any person controlling a domestic insurer, is proposing a merger or acquisition pursuant to Insurance Article, §7 –303(a), Annotated Code of Maryland, that person shall file with the Commissioner, at least 30 days before a transaction is proposed to become effective, a Form E, in accordance with the format, guidelines, and instructions approved by the Commissioner.
B. The acquiring person in an acquisition subject to Insurance Article, §7-403, Annotated Code of Maryland , shall file with the Commissioner, at least 30 days before the acquisition is proposed to become effective, a Form E, in accordance with the format, guidelines, and instructions approved by the Commissioner.
C. Upon request and in addition to the information provided in §A or B of this regulation, the Commissioner may require the opinion of an economist about the competitive impact of the acquisition or merger in the State, together with a summary of the education and experience of the economist indicating the economist’s ability to make an informed opinion pursuant to Insurance Article, §7 –403(c)(2)(ii), Annotated Code of Maryland.
Cross References 31.04.18.02B(10)
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