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


he shall make complaint thereof the Judge OF the
Circuit Court of Baltimore city or any Judge az 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 commits
sioner, appoint commission. consisting of the in
suraiiee commissioner and two diSinterested and
competent persons whose duty Il shall be TO exam
inc every detail of the business and condition ~
said company and report in writing the result OF
such examination to the judge appointing them
who shall il in his judgment the charges OF inSol-
yencg. fraud. neglect or abuse. charged by the
insurance commissioner, sustained by the said
report, at once issue an injunction suspending the
business OF said company; and the insurance com
missioner shall institute. % be instituted
the necessary proceedings under the laws this state,
% close the affairs OF any insurance company OF this
state. which shall appear 70 him upon examination
10 be insulvent. TO be fraudulently conducted;
and the insurance commissioner lisa necessary party
10 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. II shall be the duty of the insurance
commissioner TO report in detail TO the Attorney
General any violation of the laws relative to insl-
rance companies their officers agents. or the bust
ness OF insurance, and he shall have power 10 in
situte suits and prosecutions either by the Attorney
General or such other attorney the ATTORNEY Cen
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 or examined and
report annually 20 the Governor, on before the
first day OF June his official acts and shall on the
first day Of December annually, report 10 the Comp
troller The fees received and expenses of his de
partmeut for the year then end and pay into the
treasury all excess of receipts disbursements
and in his report to the Governor ne shall report
the condition OF the companies doing business in
this state, and such other information as will ex-
hibt the Affairs of his department a copy of which
insurance commissioner other similar officer of
every other state of the United States and 10 each
company doing business in this state, and on re-
quest. he shall communicate 10 the insurance COM
missioner or other proper officer Of any other State
any facts which, by law Il Is his duty 10 ascertain
respecting companies of this State doing business
within such other State and at the request of any
person. and on payment OF the proper fee herein
after provided he shall give certified copies OF any
recorded paper in his Office when he deems II not
prejudicial % public interest 10 do and he shall
give such other certificates as this act provides for
and he snail adopt and renew. from time 10 time
when necessary, with the approval of the Governor
seal of Office. an impression and description of
which, with the Governors certificate of approval
shall be filed with the Secretary of State.
- No declaration OF organization charter of
any insurance company formed under any general
law OF this state, and no alteration or amendment
thereof shall be operative until II has been submit
ted 20 the Attorney General for examination. and
found by him 10 be in accordance with the pruvis-
ions OF this act and Of such general law and not In
consistent with the constitution and laws OF this
State and certified by him and delivered 10 the
insurance commissioner; and before any such COM
pany shall begin 20 do any business the insurance
commissioner shall examine the officers Of said
company under oath 20 ascertain whether the capi-
tai required of the company named in the charter
according TO the nature of the business proposed 10
be transacted by such company. 10 am amount Of
not less than one hundred thousand dollars has
been paid IN money and Is held by the board di-
TectorS subject their actual control according
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 a mutual company
that II has received and is in actual possession of
the promises or bona fde engagements of insurance
or other securities as the case may be- TO the full
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 10 the insurance com
missioner and the Officers or corporations OF sdch
company shall be required TO certify under oath that
the capital exhibited TO the insurance commissioner
IS bona fde property OF the company, which eerti-
hcate shall be filed in the Office of the insurance
commissioner; and any officer swearing falsely in
regard 70 the provisions of this section. shall be
deemed guilty OF perjury and shall be subject To
the penalty, or penalties prescribed for such often
ces by the laws of this State.
80 IL shall not be lawful for any insurance com.
pany association, partnership corporation. organ
lied under the laws of any other state of the United
any foreign government directly or indirectly 10
take risks or transact any business of insurance
whether life, fire, marine or inland other nsu-
rance risks in this State unless be fully organized
and possessed of the amount of actual capital re-
qnired 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 its
charter declaration of organization deed of set
uement duly approved and certified by the Secre-
tary OF state insurance commissioner or other
proper officer Of its own State or Nation with MS
certificate that the company is entitled to assume
risks and issue policies therein Second A power of
attorney appointing citizen of this State resident
within this state, the agent attorney for the COM
pany, upon whom process of law can be served;
there must also be filed with the insurance commits
stoner certified copy of the vote resolution of
the directors appointing such attorney, which np-
pointment shall continue until another attorney lie
substituted. And said writing or power OF attorney
shall stipuiate and agree on the part Of the company
making the same. that any lawful process aaainst
said company, which Is served ON such agent shall
be of the same legal force and validity as if served
on such company or association within this State;
and also that in Of the death absence OF the
attorney so appointed, service of process may be
made unOn the insurance Z the To-
and such power OF attorney cannot be revoked or
modified except that a new one may be suhstitu-
ted.l so long any policy or liability remains out
standing against such company in this State. The
term process used aboveshall be held and deemed
To include any writ, summons or order, whereby
any action, suit or proceeding shall be commenced.
which shall be issued in upon any action suit
~ III ~ es SouIt, 9iiccI OF hAslstIAte
Third. \ statement OF the condition OF the company
on the thirty-frst day of December next preceding
under oath of the president or vice president of the
company, with that OF the secretary or actuary as
hereinafter provided for Fourth. certificate of the
appointment of general agent OF the company for
this State and list of its agents authorized To trans
act business for said company within fins stair ana
no certificate of authority hereinafter described
shall be issued 10 any person persons not des-
ignated by the company as agent, except in the
case OF solicitors of life insurance who may be des-
ignated by the general agent OF the company for
this State
81 No person shall act agent or solicitor I'm this
State for any insurance company, including indi-
viduals, whether resident nonresident partner
ships or Joint stock associations except such com
panes rs may be chartered under the laws of this
state in any manner whatever relating 70 insurance
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 nonresident or association, their agent
shall pay into the state Treasury the sum OF two
hundred dollars. and shall also pay into said treas
ury, a tax OF one aud one-half per centum on the
gross premiums received less the losses dividends
and annuties paid in this State during the last H.
eense year for said company, individual resident
nonresident, partnership association, "a re-
port Of which premiums losses dividends and an
nuities, collected and paid Tor any such company
must be made 10 the insurance commissioner under
oath of the general agent chief accounting officer
of such company prorided 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 and from the Tetaliat0ry
clause of this act) any company applying for ad-
mission into this state shall pay for license IN
portion for the fractional part of year that all
licenses issued shall expire the thrtyfrs day of
December, next ensuing: in addition 10 the above
license and tax. there snail be paid by each com
pany individual, resident nonresident or asso-
citation, whether of this State otherwise doing
business in this state the following fees % defray
the expenses of executing the provisions of this act
upon filing this declaration or certified COPY Of char
ter, (which IS only 70 apply to companies hereafter
admitted to do business in this Statel fty dollars
upon filing annual statement twenty-five dollars
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 of
ten dollars; prgride h0incrcT that sub-agents So
icitors who may be appointed by the general agent
of any life insurance company in this state shall
only be required 10 pay for their certificates Of
thOriy the sum of two dollars for each ahstrac. of
their annual statements for publication two dollars;
for every copy OF any paper filed in the insurance
department the sum OF twenty cents per folio and
for afixing the Official seal 10 such copy and certi-
flying the same. dollar; for valuing policies of
life insurance companies thirty dollars per million
of insurance any fractional part thereof for Off
cial examinations OF companies under this ac. the
actual expenses incurred pTorided that the filing Of
the papers with the insurance commissioner as re-
quired by this act shall be in lieu of all papers now
required by law 20 be filed with the Comptroller and
Clerk Of the Superior Court of Baltimore city.
y. Any person, body polite or corporate who
shall make negotiate or solicit within this State
any contract of insurance, shall effect an iusu-
rance or insurance. pretend To effect an insurance
OF assurances receive and transmit any offer
ofers OF insurance or assurances receive ordeliyer
policy or policies of insurance, or connect any
other person or persons with them in any policy
they may at the time hold advertise or circulate
any card circular. notice or open keep any Office
for the transaction Of said business except insu-
rance broker duly licensed without fully complying
the fines imposed by section thirty of this act
81. Every insurance company, including tndiVid-
uals partnerships joint stock associations and cor
pratons conducting any branch of insurance bust
ness In this state must transmit to the insurance
commissioner Il statement Of its condition and bust
for the year ending the preceding thirty first
day Of December which statement shall be rendered
The first day Of January following or within sixty
days thereafter. cSceHt that foreign companies may
transmit their statement Of business OtheT than taI
done in the United States. at any time prior 10 the
olloWing first day Of JULY which statements must
be IN tbs form, and STATE the particulars required by
the blanks prescribed by the insurance commission.
err and he may require. at any time statements from
from any OF it, officers or agents, such point,
a. hs may deem necessary aud proper. 20 elicit q
full exhibit OF it. business aud Standing; all u
which statements herein required must b. certified