HARRY HUGHES, Governor

889

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
SUBSECTIONS (B) AND (C) OF THIS SECTION WITH THE NATIONAL
ASSOCIATION OF INSURANCE COMMISSIONERS; AND

(II)  FILE A COPY OF THE SUMMARY OF ITS
REGISTRATION STATEMENT AS REQUIRED BY SUBSECTION (C) OF THIS
SECTION IN EACH STATE IN WHICH THAT INSURER IS AUTHORIZED TO DO
BUSINESS IF REQUESTED BY THE COMMISSIONER OF THAT STATE.

(3)    Any insurer which is subject to registration
under this section shall register [within sixty days after July
1, 1969, or] within fifteen days after it becomes [a member of an
insurance holding company system, whichever is later,] SUBJECT TO
REGISTRATION, AND ANNUALLY THEREAFTER BY MARCH 1 OF EACH YEAR FOR
THE PREVIOUS CALENDAR YEAR, unless the Commissioner, for good
cause shown, extends the time for registration and then within
such extended time.

(4)  THE COMMISSIONER MAY REQUIRE ANY INSURER WHICH IS
A MEMBER OF A HOLDING COMPANY SYSTEM WHICH IS NOT SUBJECT TO
REGISTRATION UNDER THIS SECTION TO FURNISH A COPY OF THE
REGISTRATION STATEMENT OR OTHER INFORMATION FILED BY SUCH
INSURANCE COMPANY WITH THE INSURANCE REGULATORY AUTHORITY OF ITS
DOMICILIARY JURISDICTION.

(b)  Every insurer subject to registration shall file [a]
THE registration statement on a form provided by the
Commissioner, which shall contain THE FOLLOWING current
information [about]:

(1)  The corporate and capital structure, general
financial condition, ownership and management of the insurer and
[all its affiliates] ANY PERSON CONTROLLING THE INSURER;

(2)  THE IDENTITY AND RELATIONSHIP OF EVERY MEMBER OF
THE INSURANCE HOLDING COMPANY SYSTEM;

[(2)] (3) The following AGREEMENTS IN FORCE, AND
transactions CURRENTLY OUTSTANDING OR WHICH HAVE OCCURRED DURING