The Democratic advocate. [volume] (Westminster, Md.) 1865-1972, 1878-05-11

any NONCOMPLIANCE with the provisions OF this act
he shall make complaint thereof 10 the Judge OF Ihe
Circuit Court of Baltimore city any Judge of the
Circuit Court of the county where the company or
agent may be located, as the case may be, which
judge shall, upon the requisition of the commls
sioner, appoint commission consisting of the in
surance commissioner and two disinterested and
competent persons, whose duty it shall be to exam
inc every detail of the business and condition of
said company, and report in writing the result OF
such examination to the judge appointing them
who SHALL if in his Judgment the charges of insol
vency, fraud, neglect or abuse, as charged by the
insurance commissioner, are sustained by the said
report at once issue an injunction suspending the
business of said company; and the insurance COM
missioner shall institute. cause to be instituted
the necessary proceedings under the laws this State
to close the affairs of any insurance company of this
State. which shall appear to him upon examination
to be insolvent or 10 be fraudulently conducted;
and the insurance commissioner lisa necessary party
to any proceedings instituted for the purpose of
closing up the affairs of any insurance company,
when the same shall not be in the name of the State
of Maryland. 1t shall be the duty of the insurance
commissioner to report in detail to the Attorney
General any violation of the laws relative to insr-
companies their officers or agents. or the bust
ness of insurance, and he shall have power to in
stitute suits and prosecutions either by the Attorney
era may select, for any violation of the provisions
of this act. Tenth. The insurance commissioner
shall preserve, in permanent FORM full record OF
his proceedings, and concise statement OF the con-
dltion of each company visited examined, and
report annually to the Governor, on before the
first day of June, his official acts, and shall, on the
first day of December annually, report to the Comp
troller the fees received and expenses of mis- de-
parment for the then to end, and pay into the
treasury all excess of receipts over disbursements
and in his report to the Governor, he shall report
the condition of the companies doing business IN
this State, and such other information will eX-
hibit the affairs of his department, copy of which
said report to the Governor he shall forward to the
insurance commissioner or other similar officer of
every other State of the United States, and to each
company doing business in this State, and on re-
quest he shall communicate to the insurance COM
missioner or other proper officer of any other State,
any facts, which, by law it is his duty to ascertain,
respecting companies OF this state doing business
tuifhin SfIph nfh IN "a q n
person. and payment of the proper fee as herein
after provided he shall give certified copies of any
recorded paper in his office, when he deems 1t not
preudcial to public interest so to do; and he shall
give such other certificates as this act provides for,
and he sn all adopt and renew, from time TO time,
when necessary, with the approval of the Governor
a seal of Office, an impression and description OF
which, with the Governors certificate OF approval,
shall be filed with the Secretary of State.
30 No declaration of organization or charter OF
any insurance company formed under any general
law of this State and no alteration or amendment
thereof shall be operative until it has been submit
ted to the Attorney General for examination, and
found by him to be in accordance with the provis-
ions of this act and of such general law and not in
consistent with the constitution and laws OF this
State and so certified by him and delivered to the
insurance commissioner; and before any such COM
pany shall begin to do any business, the insurance
commissioner shall examine the officers OF said
company under oath, to ascertain whether the capt.
tai required of the company named in the charter,
according to the 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 money and is held by the board OF d.
subject TO their actual CONTROL according 10
the provisions of the charter of said company or has
been by them invested in securities negotiable and
worth in the market not less than the sum OF one
hundred thousand dollars or, If mutual company,
that it has received and is in actual possession OF
the promises or bona fde engagements OF insurance
other securities as the case may be- to the tull ex
tent and of the value required by law and the name
and residence of the maker of each premium note
forming part of the capital assets and the amount
of such note shall be reported to the insurance
missioner; and the officers or corporations of such
company shall be required to certify under oath that
the capital exhibited to the insurance commissioner
is bona tide property of the company, which certl-
ficate shall be filed in the office of the insurance
commissioner; and any officer swearing falsely IN
regard TO the Provisions OF THIS SECTION slall De
deemed guilty Of RerYry, and shall be sphie9S to
the penalty penalties; prescribed for such oen
30 It shall hot be lawful for any insurance COM
pany association, partnership or corporation organ;
States or by the Government of the United States,
or any foreign government directly or indirectly, to
take risks or transact any business OF insurance
rance risks In this State unless 1t be fully organized
and possessed of the amount of actual capital re
duired of similar companies formed under the laws
of this State or until the following conditions have
been fully complied with there must be filed with
the insurance commissioner: First copy Of lts
charter declaration of organization or deed 81 set
tlepGnt duly approved and certified by the seere-
tary of State, Insurance commissioner or 1the 9
certificate that the company Is entitled to assume
risks and issue policies therein Second. power OF
attorney appointing citizen OF TINS STATE, resident
within this State the agent attorney for the COM
pany upon whom process of law can be served;
there mus er Se rs Jpf G Of The Vote r TsoGo Of
the directors appointing such attorney, which ap:
sha SId s n az D6p az
shall spulate and agree on the part Of the company
making the same, that any lawful process agalnSt
be Of the SAME legal force and validity as served
on such company or association within this STATE;
and also that in case of the death or absence OF the
attorney SO appointed, service of process may be
made upon the Insurance commissioner of the state;
and such power of attorney cannot De revoked or
modified Except that new one may be substitu-
ted so long any policy or liability remains out
standing against such company in this state The
term process used above shall be held and deemed
to include any wit, summons OF order, Whereby
any action suit Of proceeding shall be commenced,
or which shall be issued in or upon any action SUIT
Third statement of the condition OF the company
the thrty-tirst day Of December next Preceaing
SeFeEnafSef T pf9yided for Fourth serdea9 d ne
appointment of GENERAL agent of the company Tor
this State and list OF its agents authorized to trans
act business for said company within this state and
no certificate qf authority as hereinafter described
shall be issued to any person or persons not so deg
ignated by the company as agent, except in the
case of solicitors of life INSURANCE who may be des-
igpated by the general agent OF the company foF
81 10 person shall act agent or solicitor in this
STATE for any insurance company, lnelaalng inal'
ships or joint stock associations except such com.
paIiieS as may be chartered under the laws OF TINS
risks until all the provisions of this act have been
complied with, and there has been granted by the
insurance commissioner certificate OF authority or
license for which said company, Individual, resi-
dent or resident or association or thelr agent
shan Ro h sS TFse so Gy 96 6 sH Ea Of tr sE9
| ury tax of one and one-half per centum on the
gross premiums received, less the losses, diydends
and ahnuities paid in this State during the last Il
cepse year, for said company individual, resident
or NONRESIDENT, partnership or association, "a re-
mort of which premiums losses, DIVIDENDS ana ans
| nollactad and Maid Tor such cOQQQanH
must be made to the insurance commissioner, under
oath of the general agent or chief accounting ocer
of such company provided, that all premiums loaned
in this State for period not less than two years.
| shall be exempt from the payment of said tax of
one and one-half per cent and from the realatory
clause of this act;l any company applying for adj
mission Into this State shall pay for license Ill pro-
@ Re t f9fI eR ea or & AiF fG a ay
| December next ensuing: in addition 10 me ABOVE
license and tax. there shall be paid, BY each com
Cation Whether Of this State or otherwise doing
business in this State the following fees TO defray
the expenses of executing the provisions of this act
upon filing this declaration or certified copy of char
ter (Which is only TO apply to companies hereafter
admitted to do business IN TINS state MY collars
for each certificate of authority, which each agent
| of every company not organized under the laws OF
This State is hereby required to obtain the sum Of
ten doilaIs pfogtdtd bd0eger thaf sHhagenis or sos
iicitQrs Who MAY be appointed By tbs geaef9 9genI
oniv he required to pay for their certificates of ap
thofitv the sum of two dollars for each abstract Of
their annual statements Tor pHDlehtloE Two qollaEs
for every copy of any paper fled in the insurance
Department. the sum of twenty cents per folio; and
for ali King the Official seal TO such copy, aad eert
fying the same one dollar for Yalnng policies OF
life Insurance companies, thirty dollars per million
of Insurance or any fractional part thereof for OH
cial examinations of companies under this act the
actual expenses incurred pTouded that the ming OF
the papers with the insurance commissioner, as re-
0uired by this act shall be in lieu OF all papers now
rennred by law to be filed with the Comptroller and
| 1Ierk of the Superior Court of Baltimore city.
a. ANY person, body polite or corporate, who
shall mike, negotiSe OF sqtait 6ltbH tnls state,
any contract or sfalf ettecE an lnsu
rance or assurances OF pretend 10 eteot an
or assurances or receive and transmit any o1er OF
offers of insurance insurances or receive ordelVer
| a policy or policies of insurance, or connect any
| other person or persons with them IN any poilcy
they may at the time hold or advertise or circulate
rance broker duly iicefised without full
with ali the provisions of this act shall be subject 70
the fines imposed by section thirty six OF this ACT
| a2 livery insurance company Including 1pdlVlq-
uais partIeFshipa Joint stock associations and cor
prations conducting any branch OF insurance hAGl.
ness in this State, must transmit TO the insurance
commissioner statement of its condition ana DUST.
ness for the year ending on the preceding thirty
day of December, which statement shall be rendered
on the first day of January following or within Sixty
DAYS thereafter Except that foreign companies may
transmit their statement of business other than tnat
done in the United States, at any time prior TO the
following first day of July9 which statements must
be in the FORM and state the particulars required by
| tba honkS nrescrbed by the insurance commission