Failure to file statement or making unauthorized acquisition or divestiture

1. Law
2. Maryland Code
3. Insurance
4. Maryland Insurance Acquisitions Disclosure and Control Act
5. Acquisition of Control of Domestic Insurer or Insurance Holding Company
6. Failure to file statement or making unauthorized acquisition or divestiture

    A person violates this title if:

        (1)    the person fails to file the statement required by this subtitle;

        (2)    without the Commissioner’s approval during the 60–day period under § 7–306(a) of this subtitle, or after the Commissioner’s disapproval, the person makes or attempts to make an acquisition of actual or presumed control of, or a merger with, a domestic insurer or a person, including an insurance holding company, that controls a domestic insurer; or

        (3)    without the Commissioner’s approval during the 30–day period under § 7–303(d) of this subtitle, or after the Commissioner’s disapproval, the person divests or attempts to divest actual or presumed control of a domestic insurer or a person, including an insurance holding company, that controls a domestic insurer.

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