Ch. 36

1995 LAWS OF MARYLAND

In subsection (c) of this section, the cross-reference to subsection (b)(2) of
this section is substituted for the former cross-reference to the "competitive
standard in paragraph (1) of this subsection". The Insurance Article Review
Committee concluded that former Art. 48A, § 494(e)(1), revised as subsection
(b)(2) of this section, did not create a competitive standard. The Insurance
Article Review Committee calls this substitution to the attention of the
General Assembly.

In subsection (c)(3) of this section, the reference to "§ 7-403(c) of this title" is
substituted for the former inaccurate reference to "§ 494A(c)(l)".
Requirements for the contents of a pre-acquisition notification appeared in
former Art. 48A, § 494A(c)(2), revised as § 7-403(c) of this title.

Defined terms: "Certificate of authority" § 1-101
"Commissioner" § 1-101
"Control" § 1-101
"Domestic insurer" § 1-101
"Insurance" § 1-101
"Insurance business" § 1-101
"Insurer" § 1-101
"Person" § 1-101

7-307. ADDITIONAL EXPERTS.

AT THE EXPENSE OF THE ACQUIRING PERSON, THE COMMISSIONER MAY
RETAIN ATTORNEYS, ACTUARIES, ACCOUNTANTS, AND OTHER EXPERTS NOT
OTHERWISE A PART OF THE COMMISSIONER'S STAFF AS ARE REASONABLY
NECESSARY TO HELP THE COMMISSIONER IN REVIEWING THE PROPOSED
TRANSACTION SUBJECT TO THIS SUBTITLE.

REVISOR'S NOTE: This section formerly was Art. 48A, § 494(f).

The only changes are in style.

Defined terms: "Commissioner" § 1-101
"Person" § 1-101

7-308. EFFECTS OF FILING STATEMENT.

(A)     JURISDICTION OF COURTS.

THE COURTS OF THE STATE HAVE JURISDICTION OVER:

(1)      EACH PERSON THAT DOES NOT RESIDE IN, IS NOT DOMICILED IN, OR
IS NOT AUTHORIZED TO DO BUSINESS IN THE STATE THAT FILES A STATEMENT
WITH THE COMMISSIONER UNDER THIS SUBTITLE; AND .

(2)     ALL ACTIONS ARISING OUT OF A VIOLATION OF THIS SUBTITLE.

(B)     APPOINTMENT OF COMMISSIONER AS ATTORNEY.

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