PARRIS N. GLENDENING, Governor                                   Ch. 36

2. MERGE WITH OR OTHERWISE ACQUIRE CONTROL OF THE
DOMESTIC INSURER OR INSURANCE HOLDING COMPANY CONTROLLING THE
DOMESTIC INSURER; AND

(2) SEND TO THE DOMESTIC INSURER OR INSURANCE HOLDING
COMPANY CONTROLLING THE DOMESTIC INSURER:

(I)       COPIES OF THE DOCUMENTS SPECIFIED IN ITEM (1) OF THIS
SUBSECTION; AND

(II)     ANY INFORMATION CONTAINED IN THE STATEMENT FILED
UNDER § 7-304 OF THIS SUBTITLE THAT THE COMMISSIONER REQUIRES BY
REGULATION.

(B) ADDITIONAL MATERIALS AND AMENDMENTS.

(1)      BY REGULATION, THE COMMISSIONER MAY SET REQUIREMENTS
THAT THE COMMISSIONER CONSIDERS NECESSARY OR APPROPRIATE IN THE PUBLIC
INTEREST OR FOR THE PROTECTION OF POLICYHOLDERS FOR THE CONTENTS OF:

(I)      ADDITIONAL MATERIALS INVITING TENDER OFFERS AFTER
THE INITIAL INVITATIONS; AND

(II)     AMENDMENTS TO AGREEMENTS DESCRIBED IN SUBSECTION
(A)(1)(II) OF THIS SECTION.

(2)      THE ADDITIONAL MATERIALS AND AMENDMENTS SHALL CONTAIN
THE INFORMATION THAT THE COMMISSIONER REQUIRES.

(3)      THE PERSON REQUIRED TO FILE A STATEMENT UNDER § 7-304 OF
THIS SUBTITLE SHALL FILE WITH THE COMMISSIONER THE ADDITIONAL MATERIALS
AND AMENDMENTS REQUIRED BY PARAGRAPH (1) OF THIS SUBSECTION AND SEND
COPIES TO THE DOMESTIC INSURER OR INSURANCE HOLDING COMPANY
CONTROLLING THE DOMESTIC INSURER NO LATER THAN THE DATE THAT:

(I)       COPIES OF THE MATERIAL ARE FIRST PUBLISHED OR SENT OR
GIVEN TO SECURITY HOLDERS; OR

(II)     THE AMENDMENT IS ENTERED INTO.

REVISOR'S NOTE: This section is new language derived without substantive
change from former Art. 48A, § 494(b).

Subsection (a) of this section is revised in the active voice to clarify that the
person that files the statement required by § 7-304 of this subtitle must file
the documents described in subsection (a) of this section. Similarly, subsection
(b)(3) of this section is revised to state that the "person required to file a
statement under § 7-304 of this subtitle" is required to file certain materials
and amendments and send them to the domestic insurer or insurance holding
company.

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