The Democratic advocate. [volume] (Westminster, Md.) 1865-1972, 1870-06-02

Gle TO the Code Of Public General Laws, entitled
Domestic Insurance Company, be aud the same
IL hereby repealed and re-enacted so as to read
as follows:
Sec. !. 1t shall hereafter be the duty Of the
PrcsideBt or Vice President aud Secretary, or
other proper officer III each company 0r asso-
Citation organized under the laws of this State,
To transact the business Of Insurance annually
on the first day Of February, or within one
month thereafter, TO prepare under their own
oath and deposit Ia the Office OF the Cumptro-
Ter OF the Treasury, a statement of the condi-
ton OF such company or association ON the
tbirty-irst day Of December then next prece-
ding, exhibiting the following facts aud items
IN the following iurm, namely;
First The capital stock Of the company
second, the property aud assets held by the
company or association, specifying hrst, the
value or as nearly us may be, Of the real estate
held by suca company or association second,
the amount OF cash on hand and deposited in
banks to the credit OF the company or assOcia-
ton, specifying IN what banks the same are
deposited; third, the amount Of cash in the
hands OF agents and in course Of transmission;
fourth, the amount OF loans secured by bonds
aud mortgages constituting the first liens on
real estate On which there shall be lees than one
years interest due or owing; hlth the amount
Of loans 0n which interest shall not have been
paid within une year previous to such state
munti sixth, the amount due the company on
which Judgments have been obtained; seventh,
the amount uf stocks of this State, of the United
States, Vt any Incorporated city OF this State,
and Of any other stocks owned by the company,
specify ing the amount, number Of shares, and
par aud market value of each kind of stock;
eighth, the amount Of stocks held thereby as
collateral security for loans with the amount
loaned ON each kind VI sucks, its par value
and the market yalucj ninth, the amount of
assessments on the stock or premium notes paid
and unpaid; tunth, the amount of interest ac-
tually due and unpaid; eleventh, the amount OF
premium notes gu hand On which policies are
issued.
Third. The liabilities Of such COMPANY,
specifying first, the amount VI losses due ind
yet unpaid; second, the amount Of claims for
losses resisted by the company third, the
amount OF losses incurred during the year, in.
Guiding those claimed and not yet due, and of
those reported I" lie company upon which no
action has been tnlen; fourth, the amount of
dividends declared aud due aud remaining un-
paid fifth, the amount of dividends, either cash
or scrip, declared but not yet due; sixth, the
amount OF money borrowed and security for
the payment thereof; seventh, the amount of
policies outstanding; eighth, the amount of all
other existing claims against the company or
association.
Fourth. The income of the company or as
ISOLATION during the preceding year, specifying
first, the amount of cash premiums received;
stCbnu, tue amount bl nOlts received Tor prem
iums; third, the amount Of interest money re-
ceiyed; fourth, the amount Of income received
from other sources.
Fifth. The expenditures during the prece.
ding year, specifying first the amount OF losses
paid during the year, stating how much Of the
same accrued prior aud how much subsequen,
to the date of the preceding statement, and the
amount at which such losses were estimated in
such preceding statement; second, the amount
OF dividends paid during the year, third, the
amount Of expenses paid during the year, in.
Guiding commissions and fees to agents and
officers of the company or association; fourth;
the amount paid in taxes; fifth, the amounts Oi
all other payments aud expenditures. The
statement Of any company or association, the
capital Of which is composed in whole or in
part Of notes shall in addition to the fcTeg0iLg
exhibit the amount OF notes originally forming
the capital, aud also what proportion of said
notes is held by such company or association
and considered capital. Every Insurance Com
pany or association organized under the law,
of this State, failing to make and deposit such
| statement or to reply to any inquiry of the
Comptroller Of the Treasury relating to the
| condition Of such company, or ~ submit it,
books and papers when demanded. to the 10.
spectiOn and examination OF the Comptroller
| shall be subject TO the penalty of five hundred
dollars for every month that such company
shall continue thereafter " transact any bust
1t shall be the duty ofthe Comptroller Of The
Treasury to cause to be prepared and furnished
to each Of the companies aud to the attorney.
OF companies Incorporated by other States and
foreign Governments, printed forms of the
statements required by this Act, and he may
from time 10 time make such changes in tht
form of such statements as shall seem to hin
best adapted To elicit from the companies a
true exhibit Of their condition in respect tU The
severa! points hereinbefore enumerated.
Sec. 2. And be it enacted That every com.
pany as aforesaid. shall cause the stateme
rendered by it to the Comptroller to be pub
lished on the first Monday in the month o
March in the same year, daily for one week
| In one or more newspapers of the place wler,
said company is located, and II any compau,
as Aforesaid, shall fail TO make the required re
turn of its coalition within the time hereir
| designated, or to make the publication thereof
within the month Of March aforesaid, the said
company shall be liable to a penalty Of fifty
dollars fer each omission for every day there
after 9ntil the return shall have been rendered
or the publication made as required, said pen
atty TO be payable into the Treasury of the
State, and recoverable in like manner as Other
fines and penalties.
See. .. And be IL enacted, That this Aei
shall take eject from the date Of its passage.
Approved April 4, 1870.
ODEN BOWIE,
Governor