1156 LAWS OF MARYLAND. [Cir. 402

SEC. 50. Examination of Companies. Once at least during
his term of office the commissioner shall cause the affairs of
every insurance company organized under the laws of this state
to be thoroughly inspected and examined with special regard
to its financial condition and its ability to fulfill its obliga-
tions, and shall ascertain and determine whether or not it has
complied with the laws of this state; he shall also cause an
examination of every such company to be made whenever he
deems it prudent to do so, or upon the reqoest of five or
more of the stockholders, creditors, policyholders, or persons
pecuniarily interested therein, who shall make affidavit of their
belief, with specifications of reasons thereof, showing a prima
facie case that such company is in an unsound condition.
Whenever the insurance commissioner may have reason to
doubt the solvency or the correctness of the statement of any
foreign company 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 therefor, 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
information obtained from such insurance commissioner or
other officer, or from the officers of the company, that the con-
dition 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 determined upon under the provisions of this arti-
cle, the examiner of the insurance department and such other
person or persons who shall be appointed by the insurance com-
missioner for that purpose shall visit such company at its princi-
pal office and make a thorough examination into its affairs; and
if such company shall refuse to permit such examination, or
shall refuse 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 publish the fact of such revocation in one daily
newspaper published in the city of Baltimore. The examiner
of the insurance 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")