EMERSON C. HARRINGTON, GOVERNOR. 869
154AJ. Each attorney by or through whom are issued any
policies of or contracts for indemnity of the character referred
to in this Act, shall procure from the Insurance Commissioner
annually a Certificate of Authority stating that all the require-
ments of this Act have been complied with, and upon such com-
pliance and the payment of the fees and taxes required by this
Act, the Insurance Commissioner shall issue such Certificate.
154AK. In addition to the foregoing penalties, and where
not otherwise provided, the penalty for failure or refusal to
comply with any of the terms and provisions of this Act upon
the "part of the attorney, shall be the refusal, suspension or
revocation of Certificate of Authority or license by the Insur-
ance Commissioner and publication of his act, after due notice
and opportunity for hearing has been given such attorney, so
that he may appear and show cause why such action should
not be taken.
154AL. In lieu of all other taxes, licenses or fees what-
ever, State or local, such attorney, except such as shall have the
principal office located in this State, shall pay annually on
account of the transaction of such business in this State, a
license fee of twenty-five dollars and a tax of two per cent, upon
the gross premiums or deposits during the preceding calendar
year, deducting all amounts returned to subscribers or cred-
ited to their accounts other than for losses; except that where
other States collect from reciprocal or inter-insurers having
the principal office of the attorney located in this State and
exchanging indemnity in such States, fees, taxes or charges in
excess of or less than those prescribed by this section, then
such attorneys having their principal offices in such States and
exchanging indemnity in this State, shall pay to the Insurance
Commissioner of Maryland the same fees, taxes and charges as
are collected or would be collected by such other States from
reciprocal or inter-insurers having the principal office of the
attorney located in Maryland, and exchanging indemnity in
such States.
154AM. All laws or parts of laws in conflict herewith be
and the same are hereby repealed in so far as they are in con-
flict with this Act.
SEC. 4. And be it further enacted, That this Act shall be
effective from and after June 1st, 1918.
Approved April 10th, 1918.
|
|