The game must be installed under C:/ProgramFilesx86/Steam/Steamapps/Common/Max Payne 3 in order for Social Club to load, which is required to play the game. If the game was installed to a custom steam folder, copy (not move) it to the default ProgramFilesx86 folder, then have Steam uninstall the game, then reinstall it to the default location. Steam will detect the existing files and fix the installation, and the game will proceed properly. If the problem is not solved:
This can be fixed by going into safe mode, and changing the game to DirectX 9.
Turning off FXAA, MSAA, and vsync may help to make negative mouse acceleration tolerable.
This error is usually caused by having an Xbox 360 Wireless Network Adapter plugged into USB.
Run maxpayne3.exe as an administrator.
Ensure Data Execution Prevention (DEP) is set to the default (Windows programs and services only).
One fix is to edit %USERPROFILE%\Documents\Rockstar Games\Max Payne 3\graphics.xml
%USERPROFILE%\Documents\Rockstar Games\Max Payne 3\graphics.xml
For the error message "no activations remaining for this activation key" or "cannot contact activation server
 when trying to activate the game over socialclub.
Can be fixed by reinstalling Rockstar Games Social Club before launching. This have to be done every time before launching the game