HARRY HUGHES, Governor                                         885

2.  THERE WOULD BE NO INCREASE IN ANY
MARKET SHARE; OR

3.  IN NO MARKET WOULD:

A.  THE COMBINED MARKET SHARE OF THE
INVOLVED INSURERS EXCEED 12 PERCENT OF THE TOTAL MARKET; AND

B.  THE MARKET SHARE INCREASE BY MORE THAN
2 PERCENT OF THE TOTAL MARKET;

(VI)  AN ACQUISITION FOR WHICH A PRE-ACQUISITION
NOTIFICATION WOULD BE REQUIRED PURSUANT TO THIS SECTION DUE
SOLELY TO THE RESULTING EFFECT ON THE OCEAN MARINE INSURANCE LINE
OF BUSINESS; OR

(VII)  AN ACQUISITION OF AN INSURER WHOSE
DOMICILIARY COMMISSIONER:

1.  AFFIRMATIVELY FINDS THAT:

A.  THE INSURER IS IN FAILING CONDITION;

B.  THERE IS A LACK OF FEASIBLE
ALTERNATIVE TO IMPROVING THE INSURER'S FAILING CONDITION; AND

C.  THE PUBLIC BENEFITS OF IMPROVING SUCH
INSURER'S CONDITION THROUGH THE ACQUISITION EXCEED THE PUBLIC
BENEFITS THAT WOULD ARISE FROM NOT LESSENING COMPETITION; AND

2.  COMMUNICATES' THE DOMICILIARY
COMMISSIONER'S FINDINGS TO THE COMMISSIONER OF THIS STATE.

(3) FOR THE PURPOSE OF SUBPARAGRAPH (2)(V) OF THIS
SUBSECTION "MARKET" MEANS DIRECT WRITTEN INSURANCE PREMIUM IN
THIS STATE FOR A LINE OF BUSINESS AS CONTAINED IN THE ANNUAL
STATEMENT REQUIRED TO BE FILED BY INSURERS LICENSED TO DO
BUSINESS IN THIS STATE.

(C) (1) (I) AN ACQUISITION COVERED BY SUBSECTION (B) OF
THIS SECTION MAY BE SUBJECT TO AN ORDER PURSUANT TO SUBSECTION
(E) OF THIS SECTION UNLESS THE ACQUIRING PERSON FILES A
PRE-ACQUISITION NOTIFICATION AND THE WAITING PERIOD HAS EXPIRED.

(II)  THE ACQUIRED PERSON MAY FILE A
PRE-ACQUISITION NOTIFICATION.

(III)  THE COMMISSIONER SHALL GIVE CONFIDENTIAL
TREATMENT TO INFORMATION SUBMITTED UNDER THIS SUBSECTION IN THE
SAME MANNER AS PROVIDED IN § 499 OF THIS ARTICLE.

(2) (I) THE PRE-ACQUISITION NOTIFICATION SHALL BE IN
THE FORM AND CONTAIN THE INFORMATION PRESCRIBED BY THE NATIONAL
ASSOCIATION OF INSURANCE COMMISSIONERS RELATING TO THOSE MARKETS
WHICH, UNDER SUBSECTION (B)(2)(V) OF THIS SECTION, CAUSE THE