612 CORPORATIONS. [ART. 23
1902, ch. 1, sec. 126 E.
172. Each company, corporation or association chartered
or organized as aforesaid upon applying for said license shall
pay to the insurance commissioner the sum of fifteen hundred
dollars for the same; or if the application be made subsequent
to the beginning of a license year, then a pro rata proportion
of the said sum of fifteen hundred dollars.
Ibid. sec. 126 F
173. Any such company, corporation or association failing
to comply with the requirements of the three preceding sec-
tions before engaging in any of the classes of insurance
herein mentioned, shall be subject to the penalties imposed in
section 175 of this article, and the issuing of each policy of
insurance without compliance herewith shall be deemed a sep-
arate offense.
Ibid, sec 126 a.
174. No license fee shall be hereafter required of or collected
from any company, corporation or association chartered, incor-
porated or organized under the laws of any of the States of
the United States other than the State of Maryland, or under
the laws of the District of Columbia or of any of the territories
belonging to the United States as a condition of granting to
such company, corporation or association a license to carry on
any of the classes of insurance business known as surety,
liability, fidelity, accident, boiler, plate glass, health, burglary,
sprinkle leakage, credit indemnity, or casualty insurance; pro-
vided, however, that sections 170-174 shall not be construed,
to relieve any insurance company, corporation or association
of any kind whatsoever of or from the obligation to pay the
tax upon its premiums mentioned in section 167, or any other
tax or charge now imposed by law, saving and except the
license fee heretofore charged for carrying on said business;
provided further, that when by the laws of any other State,
territory or District of Columbia incorporating the company
of the character described in section 170 of this article a
license fee is required to be paid by the like company, corpo-
ration or association incorporated in the State of Maryland,
then in such case the insurance commissioner of the State of
Maryland shall require of such non-resident company the same
license fee, if any there be, as the State or government of its
incorporation would require of a like Maryland company,
before such non-resident company shall be entitled to do busi-
ness in the State of Maryland.
|
|