540 LAWS OF MARYLAND. [CH. 273

diem fees shall not exceed forty-five hundred dollars
($4, 500. 00) in any one year.

8. Auditor. The Commissioner shall also appoint an
auditor for the department, whose duties it shall be to ex-
amine and audit the annual statements of all insurance
companies authorized to do business in this State, the
books, accounts and affairs of the insurance department,
and do such other auditing as the Commissioner may di-
rect. He shall also, when so directed by the Commissioner,
assist in the examination of companies, and shall receive
an annual compensation as fixed and provided by
the budget, and when engaged in the examination of com-
panies, the per diem provided by Section 50, to be paid
by the companies examined by him, provided, how-
ever, that the total amount of salary and per diem fees shall
not exceed four thousand dollars ($4, 000. 00) in any one
year.

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 obligations, 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 request of five or more of the stockholders, creditors,
policyholders, or persons pecuniarily interested therein,
who shall make affidavit of their belief, with specifications
of reason thereof, showing a prima facie case that such
company is in an unsound condition. Whenever the Insur-
ance Commissioner may have reason to doubt the solvency
or the correctness of the statement of any foreign com-
pany 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 Com-
missioner or other officer, or from the officers of the com-
pany, that the condition of the company is such as to war-
rant 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 af-
fairs examined. Whenever an examination of any insur-