§432D-22  Acquisition of control of or
merger of a health maintenance organization.  No person may make a tender
for or a request or invitation for tenders of, enter into an agreement to
exchange securities for, or acquire in the open market or otherwise, any voting
security of a health maintenance organization or enter into any other agreement
if, after the consummation thereof, that person, directly or indirectly, or by
conversion or by exercise of any right to acquire, would be in control of the
health maintenance organization, and no person may enter into an agreement to
merge or consolidate with or otherwise to acquire control of a health
maintenance organization, unless, at the time any offer, request, or invitation
is made or any agreement is entered into, or prior to the acquisition of the
securities if no offer or agreement is involved, the person has filed with the
commissioner and has sent to the health maintenance organization information
required by section 431:11-104 and the offer, request, invitation, agreement,
or acquisition has been approved by the commissioner.  Approval by the
commissioner shall be governed by section 431:11-104(d); provided that if no
action is taken by the commissioner within thirty days, the offer, request,
invitation, agreement, or acquisition shall be deemed approved. [L 1995, c 179,
pt of §1; am L 2000, c 74, §6]