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The Annotated Code of the Public Civil Laws of Maryland, 1911
Volume 372, Page 613   View pdf image (33K)
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ART. 23] INSURANCE COMMISSIONER. 613

of said examiner so appointed to thoroughly inspect and examine, under
the direction of the insurance commissioner, the affairs of every insur-
ance company organized under the laws of this, or any other State, and
carrying on business in this State, especially as to the financial condi-
tion of such insurance companies and their ability to fulfill their obliga-
tions, in order that the insurance commissioner may ascertain and
determine whether or not they have complied with the laws of this
State.

1904, art. 23, sec. 160. 1888, art. 23, sec. 122. 1860, art. 56, sec. 28. 1858, ch. 432,

sec. 2. 1872, ch. 388. 1874, ch. 400. 1876, ch. 248. 1878, ch. 106.

1886, ch. 132. 1894, ch. 272. 1902, ch. 338.

178. It shall be the duty of the insurance commissioner:
First. To see that all laws of this State relating to insurance or
insurance companies are faithfully executed; to keep on file in his office
copies of the charter, declaration of organization or deed of settlement
of every insurance company, including partnerships, joint stock associa-
tions and corporations organized under the laws of this State, or organ-
ized under the laws of some other State or nation, and applying to do
business in this State, which copies shall be duly certified in accord-
ance with laws by the secretary of state or other proper officer of the
State or nation wherein such companies are organized; and the insur-
ance commissioner shall, upon application of any such company or asso-
ciation, furnish them with certified copies of their charter so filed in
his department.

Second. To furnish in December of each year to the companies
required by this article to report to him the necessary blank forms of
the statements required; and as soon as practicable in each year, he
shall cause to be calculated by the actuary of his department, under his
supervision, the net value, on the thirty-first day of December of the
previous year, of all the policies and additions thereto, and all obliga-
tions for the payment of annuities in force on that day of each life
insurance company doing business in this State organized by authority
of this State, and every other life insurance company doing business in
this State, that shall fail to furnish him, as hereinafter provided, from
the insurance commissioner of the State by whose authority the com-
pany was organized, or of the State in which it may elect to have its
policies valued and its deposits made; in case the company is chartered
by the government of the United States, or by any foreign government,
or by any State not having an insurance department, a certificate giv-
ing the net value of all policies in force in the company on the thirty -
first day of December of the preceding year, which calculation of the
net value of the policies in force shall, for all policies issued on or
before the thirty-first day of December, in the year 1902, be based
upon the "American Experience Table of Mortality," and four and
one-half per cent, interest per annum, and for all policies issued subse-
quent to said thirty-first day of December, in the year nineteen hun-
dred and two, upon the actuaries' table of mortality, and four per cent.

 

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The Annotated Code of the Public Civil Laws of Maryland, 1911
Volume 372, Page 613   View pdf image (33K)
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