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Session Laws, 1914
Volume 533, Page 198   View pdf image (33K)
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198 LAWS OF MARYLAND.

pany is in an unsound condition; and whenever the Insurance
Commissioner may have reason to doubt the solvency or the
correctness of the statement of any company not organized un-
der the laws of this State, which may have been licensed to do
business in this State, or which may be applying for said license,
he shall communicate such doubts, and the reasons for them, to
the Insurance Commissioner, or other officer charged with the
supervision of insurance corporations of the State in which said
company is located, and if he is not satisfied from the informa-
tion obtained from such Insurance Commissioner or other offi-
cer, or from the officers of the company, that the condition of the
company is such as to warrant him in permitting it to transact
business in this State, under the provisions of this Article, he
shall notify such company that it will be necessary for him
to have its affairs examined. "Whenever an examination of any
insurance company doing business in this State shall be deter-
mined upon under the provisions of this Article, the Examiner
of the Insurance Department and such other person or persons
who shall be appointed by the Insurance Commissioner for
that purpose shall visit such company at its principal office and
make a thorough examination into all its affairs; and if such
company shall refuse to permit such examination, or shall re-
fuse free access to all its books and papers, or shall in any way
prevent or obstruct a thorough examination into its affairs, he
shall not grant a license to such company, or if a license shall
already have been granted, he shall at once revoke it and pub-
lish the fact of such revocation in one daily newspaper pub-
lished in the City of Baltimore. The Examiner of the Insur-
ance Department shall be paid by the company whose affairs
are examined his traveling and other expenses, and in addition
thereto a sum to be approved by the Insurance Commissioner,
not exceeding, however, fifteen dollars ($15.00) for each and
every day that he shall be engaged in any such examination,
said per diem and expenses to be in addition to the compensa-
tion provided in Section 159-A of this Article; and such other
person or persons who may be appointed by the Insurance Com-
missioner for any of the purposes mentioned herein shall each
be paid by the company whose affairs are examined their trav-
eling and other expenses, and in addition thereto, a sum to be
approved by the Insurance Commissioner, not exceeding, how-
ever, ten dollars ($10.00) per day for each and every day that
he or they are engaged in any such examination; except, that
the Insurance Commissioner may employ one special examiner
on any examination that in his judgment may require such em-

 

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Session Laws, 1914
Volume 533, Page 198   View pdf image (33K)
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