HARRY HUGHES, Governor                                    1893

offer, and the offeror before making any such purchase, or before
July 1, 1978, whichever is later, failed:

(1)  To make a public announcement fairly and
accurately stating the offeror's intentions with respect to
changing or influencing the management and acquiring or changing
control of the target company at the time of the public
announcement and at the times of the initiation and completion of
the take-over offer; and

(2)  To file with the Commissioner and with the target
company a statement which sets forth the information specified in
subsection (g)(1) of this section and such additional information
as the commissioner may by rule prescribe.]

[11-906.

In addition to the powers of the Commissioner specified in
Subtitle 7 of this title, whenever any person, including a
controlling person of an offeror or target company, has engaged
or is about to engage in any act or practice constituting a
violation of this subtitle or any rule or order under this
subtitle, the offeror, the target company, or any record or
beneficial owner of an equity security may bring an action in any
court of competent jurisdiction to enjoin the acts or practices
and to enforce "compliance with this subtitle or any rule or order
under this subtitle. On proper showing, the court may grant a
permanent or temporary injunction or restraining order or may
order rescission of any sales, tenders for sale, purchases, or
tenders for purchase of securities determined to be unlawful
under this subtitle or any rule or order under this subtitle.
The court may, in its discretion, require a private party to post
a bond. In addition, upon request of a target company made
within 10 days after the filing of the notice specified in
Section ll-902(a) or the filing of any amended notice, if in the
opinion of the Commissioner good cause is shown, the Commissioner
shall institute an investigation to determine whether the
take-over offer is being made in compliance with this subtitle.]

[11-907.

(a) This subtitle does not apply if:

(1)  The target company is an insurance company or an
insurance holding company and the take-over is subject to the
approval of the Insurance Commissioner under § 494 of the
Insurance Code; or

(2)  The target company is a public utility, public
utility holding company, bank, national banking association, bank
holding company or savings and loan association subject to
regulation by federal agency and the take-over is subject to
approval by a federal agency having regulatory jurisdiction over
that company.

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