The Democratic advocate. [volume] (Westminster, Md.) 1865-1972, 1872-05-11

Ninth. lie snail preserve In perma-
nent form, full record Of his proceed
ings, aud conciso statement Of the con.
dilion Of each company or agency visited
or examined, aud report annually to the
Comptroller on or before the LIST day Of
December, his official acts, the fees
received aud expenses Of his depart.
Inent for the year then to end, and
pay into the Treasury all excess Of
receipts over disbursements, the condi-
ton Of companies doing business 10
this State, and such other information,
as viii exhibit the affairs Of his depart.
ment; a copy Of which report he shall
forward to the Insurance Commissioner
or other similar officer Of every other
State, aud to each company doing bust
ness in this State, aud on request, to
communicate TO the Insurance Commis.
sioner Of any other State, any facts
whish by Law il is his duty to ascertain
respecting companies ofthis State doiug
business within such other state.
Tenth To adopt and renew from
time 10 time when necessary, with the
approval Of the Governor, a seal Of Office.
an impression aud description whereof
with the Governors certificate of ap-
proval, shall be fled with the Score
tary Of State, aud it shall be his duty,
to see that no company is permitted to
insure lives 10 this State, whose char.
ter authorizes it to do fire, marine or
inland iususance business.
! Eleventh. The Insurance Commits
sioner for the purpose of examination
authorized by law, has power to sum.
mon aud examine any person being
within this State, under oath, which he
may administer, relative to the affairs
and condition Of any company or for
probable cause to visit at its principal
office wherever it may be, any iusur.
ance company not Of this State and
doing business in this State, for the
purpose of investigating its affairs and
condition and to revoke with the ap
proval Of the Comptroller its certificate
in this State, il it does not permit an
examination, to revoke or modify any
certificate of authority, when any cou
ditions prescribed by law for granting
it no longer exist aud the insurance
commission, with the approval of the
Comptroller, has also power to institute
suits and prosecutions, either by the
Attorney General, or such other attorney
as the Comptroller may designate for any
violation Of this Act, aud the Comptrol
Ter is a necessary party to any proceed
iugs instituted for the purpose of closing
up the affairs Of any company when the
same shall not be 10 the name of the
State of Maryland
20. If any person, body polite or
corporate, shall make, negotiate or solicit
within this State any contract Of insur-
auce, or shall effect an insurance or in.
suraaces, or pretend TO effect an insur-
ance or assurances, or receive aud trans
nit an offer or offers Of insurance or
assurances, or receive or deliver policy
or policies Of insurance, or connect any
other person or persons with them 10
any policy they may at the time hold.
or advertise or circulate any card, cir.
cular or notice, open or keep auy Office
for the transaction Of said business
without complying fully with all the
provisions Of this Act, shall be subject
to the fues imposed BY section thirty
six Of this Act, and it shall be the duty
of the Comptroller to publish annually
in the month Of jane, in at least two
newspapers, one of which shall be pub
llshed in Baltimore city, the names of
all general agents authorized to do bu.
siness in this State, together with the
names of the companies they are licensed
to represent.
80. No declaration Of organization,
or charter Of an insurance company
formed under any general law of this
State, and no alteration or amendment
thereof, shall be operative until it has
been submitted to the A torDey Gene.
raj for animation, aud found by him
to be In accordance with the provisions
Of this Act, aud OF such general law.
aud not Inconsistent with the Constitu
tion aud laws Of this State, aud so Ger
tlhed BY him, aud delivered to the In
surance Commissioner, aud before any
insurance company Of this State shall
do any business, the Insurance Com.
missioner shall examine the officers of
said company, under oath, which ex
animation shall be certified to under
oath Of said Commissioner that the
capital herein required OF the company
named In the charter according to the
nature of the business proposed to be
transacted by such company, to an
amount Of not less than one hundred
thousand dollars has been paid in, in
money, and is held by the Board of
Directors subject to their actual control
according to the provisions Of the char.
ter OF said company, or has been BY
them Invested 10 securities negotiable
aud worth in the market not less than
the sum Of Que hundred thousand dol.
lars, or if mutual company, that it has
received, and is 10 actual possession of
the premises or bona tide engagements
oil Insurance or other securities as the
case may be, to the full extent, and of
the value required by law, and the
name and residence Of the maker of
each premium note forming part of the
capital or assets, aud the amount of
such note shall be reported to the In.
surance Commissioner; and the corpora.
tors or officers of such company shall
be required to certify, under oath, that
the capital exhibited to the Insurance
Commissioner is bona fide property Of
the company, which certificate rhail be
hied IN the ONCE Of the Insurance Com.
missioner; Proridca hoaeerer, that the
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