<?xml version='1.0' encoding='utf-8'?>
<section article="gin" article_name="Insurance" number="7-406" title_number="7" title_name="Maryland Insurance Acquisitions Disclosure and Control Act" subtitle_number="4" subtitle_name="Acquisition of Control of Insurer">
  <text>A person required to file a pre-acquisition notification under this subtitle or Subtitle 3 of this title that fails to file the notification and that also fails to demonstrate a good faith effort to comply with the filing requirement is subject to a penalty not exceeding $50,000.</text>
</section>
