3714.1 No person other than the issuer shall make a tender offer of or a request or invitation for tenders of, or enter into any agreement to exchange securities for, seek to acquire, or acquire in the open market or otherwise, any voting security of a domestic captive if, after the consummation thereof, such person would, directly or indirectly (or by conversion or by exercise of any right to acquire) be in control of such company; and no person shall enter into an agreement to merge with or otherwise to acquire control of a domestic captive without the prior written approval of the Commissioner. In considering any application for acquisition of control or merger with a domestic captive, the Commissioner shall consider all of the facts and circumstances surrounding the application as well as the criteria for establishment of a company set out in this chapter.

SOURCE: Final Rulemaking published at 48 DCR 8034 (August 24, 2001); as amended by Final Rulemaking published at 59 DCR 13088 (November 16, 2012).