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

shall exceed the price Of said license,
there shall be paid into the Treasury
before a license shall be renewed for
the ensuing year, the whole excess of
the one aud one half per cent over aud
above the cost Of license; Propided,,
that all licenses shall expire on the
first day OF May 10 each year, aud any
company applying for adiuissiou into
the State, shall pay in like proportion
for the fractional part Of u year, in ad
dition to the above license or tax, there
shall be paid by each company doing
business in this State, tho following fees
TO defray the expenses OF executing the
provisions Of this Act, upon filing the
declaration or certified copy of the
charter, twenty Ave dollars, upon filing
the annual statement or certificate in
lieu thereof, twenty dollars, for aech Ger.
ti6este ofauthority which each sub agent
or solicitor is hereby required to obtain,
and certified copy thereof, two dollars,
for every copy OF any paper filed in the
department, the sum OF twenty cents
per folio, aud for fixing the official seal
to such copy aud certifying to the same,
one dollar, for yaluing policies of life
insurance companies, thirty dollars per
million OF insurance or any fraction
thereof, for official examination of com
panies under this Act, the actual ex
penses incurred; Provided, that the
fling Of the papers with the Insurance
Commissioner as provided By this Act
shall be in lieu Of all papers now re
quired by law to be filed with the Comp
troller aud the Clerk of the Superior
Court of Baltimore City.
80. Every insurance company 10
GLIDING individuals, partnerships, joint
stock associations aud corporations, COZ.
Quoting any branch Of insurance bust
ness 10 this State, must transmit to the
Insurance Commissioner, statement OF
its condition aud business for the year
ending on the preceding thirty first day
Of December, which statement shall be
rendered on the first day of January
following, or within sixty days there
after, except that foreign companies
shall transmit their statmeut of business
other than that done in the United
States, prior to the following lst day OF
July, which statement must be in form
aud state the particulars required by
the blanks prescribed by the Comptroller,
and the Insurance Commissioner may
require, at any time, statements from
any company doing business within this
State, or inform any Gifts officers or agents
on such points as he deems necessary
aud proper to elicit full exhibit of its
business aud standing, all Of which
statements herein required must DO yer
flied by the signatures aud oath Of the
President or Vice President with those
OF the Secretary or actuIry No coin
pany having neglected TO file a state
ment required of it within the time and
manner prescribed, shall do any new
business after notification By the Iusur
ance Commissioner, while such neglect
continues, and any company or associa.
ton negleeting to make aud transmit
any statement required shall forfeit one
hundred dollars for each days neglect;
aud any person or company wilfuly
mixing false statement in any report
to the Insurance Commissioner, is liza
bic TO the fines imposed by section thir.
ty.six Of this Act
33. No Insurance COMPANY not of
this State, nor its agents, shall do bust
ness in this State, until it has fled with
the Insurance Commissioner of this
State written stipulation, duly au
thenticated by the company, agreeing
that any legal process affecting the con-.
pany served on the Insurance Commits
sloncr, or the party designated by him.
or the agent specified by said COMPANY
to receive service OF process for the com.
pany, shall have the same effect served
personally on the company within this
State, as IT such company should cease
to maintain such agent ia this State 50
designated, such process NAV thereafter
be served on the Insurance Comnis
sloner, but so long as any liability OF
the stipulating compaDy to any resident
OF this State continues, such stipulation
cannot be revoked or modified, except
that new Que may be substituted
so as to require or dispense with service
at tho Office Of said company within this
State; aud that such service of process
according to this stipulation, shall be
suthclent personal service on the Com
pany; the term process includes any
writ, summons or order, whereby any
action suit or proceedings shall be com
meneed, or which shall be issued in or
upon any action, suit or proceedings.
"a. Before any insurance company
shall commence business in this State
the following conditions 10 addition to
those imposed by the preceding sections
OF this Act, must be complied with il
must be fully organized, If il be com
pauy not of this State, COPY of is
charter duly accepted, or its declaration
OF organization, or deed Of settlement
duly approved, and certified by the la.
surance Commissioner, or other proper
officer Of its own State or Nation with
his certificate, that the company is Gu
titled to assume risks and is ne policies
therein, must be filed with the In,ur
ance Commissioner of this State; the
capital stock of no insurance company
mutual insurance companies excepted
incorporated by this State, or iucor.
Porated BY the laws Of another State or
country, and doing business 10 this State,
whether fire, life, marine or inland in
suranee, shall be less than one huodred
Thousand dollars. Al amount equal to
the reinsurance reserve Of all insurance
companies shall be invested ia tho bonds
or Treasury notes Of tho United States.