890

LAWS OF MARYLAND

Ch. 199

THE LAST CALENDAR YEAR between such insurer and its affiliates
[which are in force at the time such insurer becomes subject to
registration]:

(i) Loans, other investment, purchases, sales
or exchanges of securities of the [affiliate] AFFILIATES by the
insurer or of the insurer by its affiliates;

(ii) Purchases, sales, or exchanges of assets;

(iii) Transactions not in the ordinary course
of business;

(iv) Guarantees or undertakings for the benefit
of an affiliate, which result in an actual contingent exposure of
the insurer's assets to liability, other than insurance contracts
entered into in the ordinary course of the insurer's business;

(v) All management [and] AGREEMENTS, service
contracts, and [all] cost-sharing arrangements[, other than cost
allocation arrangements based upon generally accepted accounting
principles]; [and]

(vi) [Reinsurance] ALL REINSURANCE agreements
[covering substantially one or more lines of insurance of the
ceding company.];

(VII)  ALL DIVIDENDS AND OTHER DISTRIBUTIONS TO
SHAREHOLDERS; AND

(VIII)  ALL CONSOLIDATED TAX ALLOCATION
AGREEMENTS;

[(3) Other material matters as may be included in
registration forms adopted by the Commissioner.]

(4)  ANY PLEDGE OF THE INSURER'S STOCK, INCLUDING
STOCK OF ANY SUBSIDIARY OR CONTROLLING AFFILIATE, FOR A LOAN MADE
TO ANY MEMBER OF THE INSURANCE HOLDING COMPANY SYSTEM; AND

(5)  OTHER MATTERS CONCERNING TRANSACTIONS BETWEEN
REGISTERED INSURERS AND ANY AFFILIATES AS MAY BE INCLUDED FROM
TIME TO TIME IN ANY REGISTRATION FORMS ADOPTED OR APPROVED BY THE
COMMISSIONER.

(c) [Each registered insurer shall keep current the
information required to be disclosed in its registration
statement by reporting all material changes or additions within
twenty days after it learns or in the exercise of due diligence
should have learned of such change or addition on forms provided
by the Commissioner.] ALL REGISTRATION STATEMENTS SHALL CONTAIN A
SUMMARY OUTLINING ALL ITEMS IN THE CURRENT REGISTRATION STATEMENT
REPRESENTING CHANGES FROM THE PRIOR REGISTRATION STATEMENT.