3682

VETOES

Commissioner, by rule or regulation or by order, shall exempt the
same from the provisions of this section as not comprehended
within the purposes of this section.

[(g)] (H) (i) Failure to file the statement required under
[subsection] SUBSECTIONS (a) AND (B) [hereof] OF THIS SECTION
shall constitute a violation of this subtitle.

(ii) Effectuation of or any attempt to
effectuate an acquisition of, actual or presumed, control of, or
merger with, a domestic insurer or insurance holding, company
which controls one or more domestic insurers within the sixty-day
period referred to in subsection (e) unless the Commissioner has
given his approval thereto, or after disapproval of such
acquisition of control or merger by the Commissioner, shall
constitute a violation of this subtitle.

(I) (1) THE COURTS OF THIS STATE ARE HEREBY VESTED WITH
JURISDICTION OVER EVERY PERSON NOT RESIDING, DOMICILED, OR
AUTHORIZED TO DO BUSINESS IN THIS STATE WHO FILES A STATEMENT
WITH THE COMMISSIONER UNDER THIS SECTION, AND OVERALL ACTIONS
INVOLVING SUCH PERSON ARISING OUT OF VIOLATIONS OF THIS SECTION.

(2)  EACH PERSON WHO IS SUBJECT TO THE JURISDICTION OF
THE COURTS OF THIS STATE UNDER PARAGRAPH (1) OF THIS SUBSECTION
SHALL BE DEEMED TO HAVE PERFORMED ACTS EQUIVALENT TO AND
CONSTITUTING AN APPOINTMENT BY SUCH A PERSON OF THE COMMISSIONER
TO BE HIS TRUE AND LAWFUL ATTORNEY UPON WHOM MAY BE SERVED ALL
LAWFUL PROCESS IN ANY ACTION, SUIT, OR PROCEEDING ARISING OUT OF
VIOLATIONS OF THIS SECTION.

(3)  COPIES OF ALL LAWFUL PROCESS SHALL BE SERVED ON
THE COMMISSIONER AND TRANSMITTED BY REGISTERED OR CERTIFIED MAIL
BY THE COMMISSIONER TO SUCH PERSON AT HIS LAST KNOWN ADDRESS.

494A.

(A)  (1) IN THIS SECTION, THE FOLLOWING TERMS HAVE THE
MEANINGS INDICATED.

(2)  "ACQUISITION" MEANS ANY AGREEMENT, ARRANGEMENT OR
ACTIVITY THE CONSUMMATION OF WHICH RESULTS IN A PERSON ACQUIRING
DIRECTLY OR INDIRECTLY THE CONTROL OF ANOTHER PERSON, AND
INCLUDES BUT IS NOT LIMITED TO THE ACQUISITION OF VOTING
SECURITIES, THE ACQUISITION OF ASSETS, BULK REINSURANCE, AND
MERGERS.

(3)  "INVOLVED INSURER" INCLUDES AN INSURER WHICH
EITHER ACQUIRES OR IS ACQUIRED, IS AFFILIATED WITH AN ACQUIRER OR
ACQUIRED, OR IS THE RESULT OF A MERGER.

(B)  (1) EXCEPT AS PROVIDED IN PARAGRAPH (2) OF THIS
SUBSECTION, THIS SECTION APPLIES TO ANY ACQUISITION IN WHICH
THERE IS A CHANGE IN CONTROL OF AN INSURER AUTHORIZED TO DO
BUSINESS IN THIS STATE.