- A. If a domestic insurer, including any person controlling a domestic insurer, is proposing a merger or acquisition pursuant to Insurance Article, §7–303(a), Annotated Code of Maryland, that person shall file with the Commissioner, at least 30 days before a transaction is proposed to become effective, a Form E, in accordance with the format, guidelines, and instructions approved by the Commissioner.
- B. The acquiring person in an acquisition subject to Insurance Article, §7-403, Annotated Code of Maryland, shall file with the Commissioner, at least 30 days before the acquisition is proposed to become effective, a Form E, in accordance with the format, guidelines, and instructions approved by the Commissioner.
- C. Upon request and in addition to the information provided in §A or B of this regulation, the Commissioner may require the opinion of an economist about the competitive impact of the acquisition or merger in the State, together with a summary of the education and experience of the economist indicating the economist’s ability to make an informed opinion pursuant to Insurance Article, §7–403(c)(2)(ii), Annotated Code of Maryland.
Authority: Insurance Article, §§1-101(jj), 2-109, 2-205, 2-209, and 5-901—5-917 and Title 7, Annotated Code of Maryland
Effective date:
Regulations .01 and .02 adopted as an emergency provision effective December 8, 1993 (20:26 Md. R. 2024)
Regulations .01 and .02 adopted effective March 28, 1994 (21:6 Md. R. 467)
Chapter recodified from 09.31.01 to COMAR 31.04.18 effective September 7, 1998 (25:18 Md. R. 1439)
Regulation .02 repealed and new Regulation .02 adopted effective November 7, 2016 (43:16 Md. R. 901)
Regulation .02B amended effective January 6, 2025 (51:26 Md. R. 1187)
Regulations .03—.14 adopted effective November 7, 2016 (43:16 Md. R. 901)
Regulation .15 adopted effective January 6, 2025 (51:26 Md. R. 1187)