HARRY HUGHES, Governor                                      3685

NOTIFICATION AND SHALL END ON THE EARLIER OF THE 30TH DAY AFTER
THE DATE OF SUCH RECEIPT, OR TERMINATION OF THE WAITING PERIOD BY
THE COMMISSIONER.

(II) BEFORE THE END OF THE WAITING PERIOD, THE
COMMISSIONER MAY REQUIRE THE SUBMISSION OF ADDITIONAL NEEDED
INFORMATION RELEVANT TO THE PROPOSED ACQUISITION, IN WHICH EVENT
THE WAITING PERIOD SHALL END ON THE EARLIER OF THE 30TH DAY AFTER
RECEIPT OF SUCH ADDITIONAL INFORMATION BY THE COMMISSIONER OR
TERMINATION OF THE WAITING PERIOD BY THE COMMISSIONER.

(D) (1) THE COMMISSIONER MAY ENTER AN ORDER UNDER
SUBSECTION (E)(1) OF THIS SECTION WITH RESPECT TO AN ACQUISITION

IF:

(I)  THERE IS SUBSTANTIAL EVIDENCE THAT THE
EFFECT OF THE ACQUISITION MAY BE SUBSTANTIALLY TO LESSEN
COMPETITION IN ANY LINE OF INSURANCE IN THIS STATE OR TEND TO
CREATE A MONOPOLY THEREIN; OR

(II)  THE INSURER FAILS TO FILE ADEQUATE
INFORMATION IN COMPLIANCE WITH SUBSECTION (C) OF THIS SECTION.

(2) (I) IN DETERMINING WHETHER A PROPOSED ACQUISITION
WOULD VIOLATE THE COMPETITIVE STANDARD OF PARAGRAPH (1) OF THIS
SUBSECTION, THE COMMISSIONER SHALL CONSIDER THE FOLLOWING:

1.  ANY ACQUISITION COVERED UNDER
SUBSECTION (B) OF THIS SECTION INVOLVING TWO OR MORE INSURERS
COMPETING IN THE SAME MARKET IS PRIMA FACIE EVIDENCE OF VIOLATION
OF THE COMPETITIVE STANDARDS IF THE INVOLVED INSURERS POSSESS THE
FOLLOWING SHARES OF THE MARKET:

INSURER A                                INSURER B

5%                                              4% OR MORE

10%                                            3% OR MORE

15%                                            2% OR MORE

2.  WHERE MORE THAN TWO INSURERS ARE
INVOLVED, IF THE INSURERS POSSESS A SHARE OF THE MARKET THAT
EXCEEDS THE TOTAL OF THE TWO COLUMNS IN THE TABLE, IT IS PRIMA
FACIE EVIDENCE OF VIOLATION OF THE COMPETITIVE STANDARD IN
PARAGRAPH (1) OF THIS SUBSECTION.

(II) 1. PERCENTAGES NOT SHOWN IN THE TABLES IN
SUBPARAGRAPH (I) OF THIS PARAGRAPH MAY BE INTERPOLATED
PROPORTIONATELY TO THE PERCENTAGES THAT ARE SHOWN.

2. FOR THE PURPOSE OF THIS PARAGRAPH, THE
INSURER WITH THE LARGEST SHARE OF THE MARKET SHALL BE DEEMED TO
BE INSURER "A".

(III) 1. IN THIS PARAGRAPH, THE FOLLOWING TERMS
HAVE THE MEANINGS INDICATED.