HARRY HUGHES, Governor

3687

3. THE HEARING IS CONCLUDED AND THE ORDER
IS ISSUED NO LATER THAN 60 DAYS AFTER THE END OF THE WAITING
PERIOD.

(II) EVERY ORDER SHALL BE ACCOMPANIED BY A
WRITTEN DECISION OF THE COMMISSIONER SETTING FORTH HIS FINDINGS
OF FACT AND CONCLUSIONS OF LAW.

(3)  (I) AN ORDER ENTERED UNDER THIS SUBSECTION SHALL
NOT BECOME FINAL EARLIER THAN 30 DAYS AFTER IT IS ISSUED DURING
WHICH TIME THE INVOLVED INSURER MAY SUBMIT A PLAN TO REMEDY THE
ANTICOMPETITIVE IMPACT OF THE ACQUISITION WITHIN A REASONABLE
TIME.

(II) BASED UPON A PLAN TO REMEDY THE
ANTICOMPETITIVE IMPACT OR OTHER INFORMATION, THE COMMISSIONER
SHALL SPECIFY, IF ANY, THE CONDITIONS UNDER THE TIME PERIOD
DURING WHICH THE ASPECTS OF THE ACQUISITION CAUSING A VIOLATION
OF THE STANDARDS OF THIS SECTION WOULD BE REMEDIED AND THE ORDER
VACATED OR MODIFIED.

(4)  AN ORDER UNDER THIS SUBSECTION DOES NOT APPLY IF
THE ACQUISITION IS NOT CONSUMMATED.

(5)  ANY PERSON WHO VIOLATES A CEASE AND DESIST ORDER
ISSUED BY THE COMMISSIONER UNDER THIS SUBSECTION MAY, AFTER
NOTICE AND HEARING AND UPON ORDER OF THE COMMISSIONER, BE SUBJECT
AT THE DISCRETION OF THE COMMISSIONER TO ANY ONE OR BOTH OF THE
FOLLOWING PENALTIES:

(I)  A MONETARY PENALTY OF NOT MORE THAN $10,000
FOR EVERY DAY OF VIOLATION; OR

(II)  SUSPENSION OR REVOCATION OF THE PERSON'S
LICENSE.

(6)  ANY INSURER OR OTHER PERSON WHO FAILS TO MAKE ANY
FILING REQUIRED BY THIS SECTION AND WHO ALSO FAILS TO DEMONSTRATE
A GOOD FAITH EFFORT TO COMPLY WITH ANY SUCH FILING REQUIREMENT
SHALL BE SUBJECT TO A FINE OF NOT MORE THAN $50,000.

495.

(a) (1) Every insurer which is authorized to do business in
this State and which is a member of an insurance holding company
system shall register with the Commissioner; except any foreign
insurer organized in a jurisdiction which has adopted by statute
or regulation disclosure requirements and standards substantially
similar to those contained in this subtitle.

(2) EVERY INSURER SUBJECT TO PARAGRAPH (1) OF THIS
SUBSECTION SHALL:

(I) FILE A COPY OF THE REGISTRATION STATEMENT
AND SUMMARY OF ITS REGISTRATION STATEMENT AS REQUIRED BY