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<section article="gin" article_name="Insurance" number="7-305" title_number="7" title_name="Maryland Insurance Acquisitions Disclosure and Control Act" subtitle_number="3" subtitle_name="Acquisition of Control of Domestic Insurer or Insurance Holding Company">
  <level label="a">
    <text>At the time a person files the statement required by § 7-304 of this subtitle, the person shall:</text>
    <level label="1">
      <text>file with the Commissioner:</text>
      <level label="i">
        <text>all invitations for tenders or advertisements making a tender offer or inviting tenders of voting securities of the domestic insurer or insurance holding company controlling the domestic insurer made by or for the person; and</text>
      </level>
      <level label="ii">
        <text>any agreement to:</text>
        <level label="1">
          <text>exchange or otherwise acquire securities of the domestic insurer or insurance holding company controlling the domestic insurer; or</text>
        </level>
        <level label="2">
          <text>merge with or otherwise acquire control of the domestic insurer or insurance holding company controlling the domestic insurer; and</text>
        </level>
      </level>
    </level>
    <level label="2">
      <text>send to the domestic insurer or insurance holding company controlling the domestic insurer:</text>
      <level label="i">
        <text>copies of the documents specified in item (1) of this subsection; and</text>
      </level>
      <level label="ii">
        <text>any information contained in the statement filed under § 7-304 of this subtitle that the Commissioner requires by regulation.</text>
      </level>
    </level>
  </level>
  <level label="b">
    <level label="1">
      <text>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:</text>
      <level label="i">
        <text>additional materials inviting tender offers after the initial invitations; and</text>
      </level>
      <level label="ii">
        <text>amendments to agreements described in subsection (a)(1)(ii) of this section.</text>
      </level>
    </level>
    <level label="2">
      <text>The additional materials and amendments shall contain the information that the Commissioner requires.</text>
    </level>
    <level label="3">
      <text>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:</text>
      <level label="i">
        <text>copies of the material are first published or sent or given to security holders; or</text>
      </level>
      <level label="ii">
        <text>the amendment is entered into.</text>
      </level>
    </level>
  </level>
</section>
