§ 7-404. Waiting period

   (a) In general. -- The waiting period for an acquisition subject to this subtitle:

   (1) begins on the day the Commissioner receives the pre-acquisition notification; and

   (2) ends on the earlier of:

      (i) 30 days after the period begins; or

      (ii) the day on which the Commissioner ends the waiting period.

(b) Extension. --

   (1) During the waiting period for an acquisition subject to this subtitle, the Commissioner may require that additional information relevant to the proposed acquisition be filed.

   (2) If the Commissioner requires additional information, the waiting period shall be extended to the earlier of:

      (i) 30 days after the Commissioner receives the additional information; or

      (ii) the day on which the Commissioner ends the waiting period.

HISTORY: An. Code 1957, art. 48A, § 494A; 1995, ch. 36.